Paragon Advisors LLC Increases Stake in Arista Networks, Inc. $ANET

Paragon Advisors LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 19.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,740 shares of the technology company’s stock after acquiring an additional 6,897 shares during the quarter. Arista Networks accounts for 1.5% of Paragon Advisors LLC’s portfolio, making the stock its 17th largest position. Paragon Advisors LLC’s holdings in Arista Networks were worth $5,600,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ANET. Brighton Jones LLC boosted its position in shares of Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after buying an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Arista Networks in the fourth quarter worth approximately $202,000. Bison Wealth LLC purchased a new stake in shares of Arista Networks in the fourth quarter worth approximately $251,000. Sivia Capital Partners LLC lifted its stake in shares of Arista Networks by 48.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after acquiring an additional 3,496 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth approximately $78,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 3.1%

Shares of NYSE ANET opened at $134.87 on Thursday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The firm has a market cap of $169.47 billion, a PE ratio of 48.87, a price-to-earnings-growth ratio of 2.32 and a beta of 1.46. The business has a fifty day simple moving average of $135.83 and a two-hundred day simple moving average of $137.14.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. On average, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the topic of several research analyst reports. Rosenblatt Securities upped their price objective on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Barclays reiterated an “overweight” rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Needham & Company LLC upped their price target on shares of Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. UBS Group set a $200.00 price target on shares of Arista Networks in a research note on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.47.

Insiders Place Their Bets

In other news, insider Kenneth Duda sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total value of $4,292,480.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,740,600.64. This represents a 71.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. This represents a 44.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 199,632 shares of company stock worth $26,936,324 in the last three months. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.