Sonoma Allocations LLC Invests $631,000 in Arista Networks, Inc. $ANET

Sonoma Allocations LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,359 shares of the technology company’s stock, valued at approximately $631,000.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Arista Networks by 13.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 271,468 shares of the technology company’s stock valued at $39,556,000 after acquiring an additional 31,759 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Arista Networks by 32.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 117,788 shares of the technology company’s stock worth $17,163,000 after purchasing an additional 28,742 shares during the last quarter. Cromwell Holdings LLC increased its holdings in Arista Networks by 5.3% during the 3rd quarter. Cromwell Holdings LLC now owns 3,105 shares of the technology company’s stock valued at $452,000 after purchasing an additional 157 shares during the period. Capital Investment Advisors LLC raised its position in Arista Networks by 11.3% during the 3rd quarter. Capital Investment Advisors LLC now owns 7,647 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 779 shares during the last quarter. Finally, Essex LLC raised its position in Arista Networks by 2.1% during the 3rd quarter. Essex LLC now owns 11,364 shares of the technology company’s stock valued at $1,656,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,598,124.16. The trade was a 69.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the transaction, the director owned 17,784 shares in the company, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 216,464 shares of company stock worth $28,488,988. 3.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ANET shares. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Melius Research lifted their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a report on Friday, September 12th. William Blair restated an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Finally, Needham & Company LLC boosted their price target on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $123.05 on Friday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm has a market cap of $154.95 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 2.08 and a beta of 1.41. The company has a 50-day moving average of $130.43 and a 200 day moving average of $131.65.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks 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.