Ashton Thomas Securities LLC Purchases 9,223 Shares of Arista Networks, Inc. (NYSE:ANET)

Ashton Thomas Securities LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 308.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,216 shares of the technology company's stock after purchasing an additional 9,223 shares during the quarter. Ashton Thomas Securities LLC's holdings in Arista Networks were worth $1,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock worth $51,000 after buying an additional 128 shares during the period. Anchor Investment Management LLC raised its holdings in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after acquiring an additional 35 shares during the period. Caitlin John LLC lifted its position in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the period. Finally, New Millennium Group LLC increased its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Remove Ads

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

ANET traded down $0.64 on Tuesday, reaching $86.87. The company had a trading volume of 7,776,843 shares, compared to its average volume of 8,572,881. The stock has a market cap of $109.55 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The company's fifty day moving average is $101.47 and its 200 day moving average is $101.98.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Barclays restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.00.

Arista Networks 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.