Strata Wealth Advisors LLC Buys 28,692 Shares of Arista Networks, Inc. (NYSE:ANET)

Strata Wealth Advisors LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 299.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,267 shares of the technology company's stock after purchasing an additional 28,692 shares during the period. Arista Networks accounts for approximately 1.3% of Strata Wealth Advisors LLC's holdings, making the stock its 13th largest position. Strata Wealth Advisors LLC's holdings in Arista Networks were worth $4,230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the fourth quarter worth about $242,000. Silver Oak Securities Incorporated raised its stake in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock worth $2,072,000 after acquiring an additional 14,843 shares during the period. Proactive Wealth Strategies LLC lifted its holdings in Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company's stock valued at $676,000 after purchasing an additional 4,865 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its position in shares of Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company's stock worth $66,599,000 after purchasing an additional 449,088 shares during the period. Finally, 5T Wealth LLC purchased a new stake in shares of Arista Networks in the fourth quarter worth $1,046,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $5.10 on Friday, reaching $98.31. The company's stock had a trading volume of 13,984,341 shares, compared to its average volume of 10,062,921. The company has a 50-day simple moving average of $113.94 and a 200 day simple moving average of $101.57. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The company has a market cap of $123.84 billion, a P/E ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,056 shares of company stock worth $30,225,623. Company insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Needham & Company LLC restated a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday. Rosenblatt Securities reiterated a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday. UBS Group boosted their price target on Arista Networks from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus price target of $113.79.

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.