Peregrine Asset Advisers Inc. Purchases Shares of 1,000 Arista Networks, Inc. (NYSE:ANET)

Peregrine Asset Advisers Inc. acquired a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,000 shares of the technology company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Rakuten Securities Inc. purchased a new position in Arista Networks in the 4th quarter worth about $35,000. Atticus Wealth Management LLC increased its position in shares of Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Arista Networks during the third quarter valued at approximately $28,000. Sandy Spring Bank lifted its position in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Arista Networks in the 3rd quarter worth approximately $29,000. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ANET. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday, January 8th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.53.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $4.42 on Monday, reaching $278.82. The stock had a trading volume of 2,030,771 shares, compared to its average volume of 2,450,893. The business’s 50-day moving average price is $279.18 and its two-hundred day moving average price is $250.63. The stock has a market cap of $87.17 billion, a P/E ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13. Arista Networks, Inc. has a fifty-two week low of $133.42 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, equities analysts forecast that Arista Networks, Inc. will post 6.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $922,301.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,474 shares of company stock valued at $96,640,840. Insiders own 3.54% of the company’s stock.

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.