Sheaff Brock Investment Advisors LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Sheaff Brock Investment Advisors LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET – Get Rating) by 25.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,807 shares of the technology company’s stock after acquiring an additional 363 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Arista Networks were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. lifted its position in Arista Networks by 3.5% during the first quarter. Vestmark Advisory Solutions Inc. now owns 2,729 shares of the technology company’s stock valued at $379,000 after acquiring an additional 92 shares during the last quarter. Concentrum Wealth Management raised its holdings in shares of Arista Networks by 2.5% in the first quarter. Concentrum Wealth Management now owns 4,018 shares of the technology company’s stock worth $558,000 after buying an additional 98 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Arista Networks by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the technology company’s stock worth $1,806,000 after buying an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of Arista Networks by 2.2% in the first quarter. Hillsdale Investment Management Inc. now owns 4,620 shares of the technology company’s stock worth $643,000 after buying an additional 100 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its holdings in shares of Arista Networks by 1.0% in the first quarter. Green Alpha Advisors LLC now owns 10,404 shares of the technology company’s stock worth $1,446,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $126.68 on Friday. The firm has a market cap of $38.55 billion, a PE ratio of 39.07, a P/E/G ratio of 1.90 and a beta of 1.35. The firm’s fifty day moving average is $101.91 and its 200 day moving average is $114.69. Arista Networks, Inc. has a one year low of $85.18 and a one year high of $148.57.

Arista Networks (NYSE:ANET – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The company’s revenue was up 48.7% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Research analysts predict that Arista Networks, Inc. will post 3.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Cowen raised their price target on shares of Arista Networks from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Tuesday. Credit Suisse Group raised their price target on shares of Arista Networks from $178.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday. Barclays decreased their price target on shares of Arista Networks from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Morgan Stanley increased their price objective on shares of Arista Networks from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.53.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Friday, May 13th. The shares were sold at an average price of $107.74, for a total transaction of $2,154,800.00. Following the transaction, the senior vice president now directly owns 29,367 shares of the company’s stock, valued at $3,164,000.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Friday, May 13th. The shares were sold at an average price of $107.74, for a total transaction of $2,154,800.00. Following the transaction, the senior vice president now directly owns 29,367 shares of the company’s stock, valued at $3,164,000.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 560 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $98.50, for a total transaction of $55,160.00. Following the completion of the transaction, the director now directly owns 2,212 shares in the company, valued at $217,882. The disclosure for this sale can be found here. Insiders have sold a total of 530,320 shares of company stock valued at $54,800,753 over the last ninety days. Corporate insiders own 19.59% of the company’s stock.

Arista Networks Profile

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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.