Florida Financial Advisors LLC Takes Position in Arista Networks, Inc. (NYSE:ANET)

Florida Financial Advisors LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,286 shares of the technology company’s stock, valued at approximately $363,000.

A number of other large investors have also added to or reduced their stakes in the stock. Anchor Investment Management LLC boosted its stake in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the last quarter. Freedom Investment Management Inc. boosted its position in Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after purchasing an additional 36 shares during the last quarter. LRI Investments LLC grew its stake in shares of Arista Networks by 3.1% during the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Arista Networks by 3.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock valued at $453,000 after purchasing an additional 43 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Arista Networks by 3.3% in the 3rd quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company’s stock worth $715,000 after purchasing an additional 59 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last ninety days. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

Shares of ANET opened at $86.87 on Wednesday. The stock has a market capitalization of $109.55 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The business’s 50 day simple moving average is $101.47 and its 200-day simple moving average is $101.98.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

About Arista Networks

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.