Inspire Advisors LLC Has $4.56 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Inspire Advisors LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 281.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,285 shares of the technology company’s stock after purchasing an additional 30,474 shares during the period. Arista Networks accounts for 0.6% of Inspire Advisors LLC’s holdings, making the stock its 17th biggest holding. Inspire Advisors LLC’s holdings in Arista Networks were worth $4,563,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ANET. Stock Yards Bank & Trust Co. bought a new position in Arista Networks during the fourth quarter worth $242,000. GHE LLC raised its stake in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after buying an additional 21,597 shares during the last quarter. Colonial River Investments LLC raised its stake in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after buying an additional 7,466 shares during the last quarter. Unified Investment Management bought a new position in Arista Networks during the fourth quarter worth $630,000. Finally, Silver Oak Securities Incorporated raised its stake in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In related news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock worth $49,112,111 over the last three months. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $77.53 on Tuesday. The stock has a market capitalization of $97.77 billion, a P/E ratio of 34.92, a P/E/G ratio of 3.10 and a beta of 1.08. The company has a 50-day moving average price of $108.24 and a 200-day moving average price of $102.10. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup lifted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.