3,286 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Florida Financial Advisors LLC

Florida Financial Advisors LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,286 shares of the technology company’s stock, valued at approximately $363,000.

Several other large investors have also recently made changes to their positions in ANET. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Arista Networks by 293.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,733 shares of the technology company’s stock valued at $5,939,000 after buying an additional 40,080 shares during the last quarter. Potentia Wealth purchased a new stake in Arista Networks during the 4th quarter valued at about $1,843,000. Signature Estate & Investment Advisors LLC bought a new position in Arista Networks during the 4th quarter worth approximately $1,572,000. Zions Bancorporation N.A. increased its stake in Arista Networks by 300.0% in the 4th quarter. Zions Bancorporation N.A. now owns 1,668 shares of the technology company’s stock worth $184,000 after purchasing an additional 1,251 shares during the period. Finally, TIAA Trust National Association increased its stake in Arista Networks by 302.5% in the 4th quarter. TIAA Trust National Association now owns 168,064 shares of the technology company’s stock worth $18,576,000 after purchasing an additional 126,309 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

NYSE:ANET opened at $86.87 on Wednesday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The company has a market capitalization of $109.55 billion, a PE ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. The firm’s 50-day moving average price is $101.47 and its 200-day moving average price is $101.98.

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

Insiders Place Their Bets

In related news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent analyst reports. Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and boosted their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

About Arista Networks

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.