Financial Security Advisor Inc. Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Financial Security Advisor Inc. purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 812 shares of the technology company’s stock, valued at approximately $235,000.

A number of other large investors have also added to or reduced their stakes in ANET. Norges Bank bought a new stake in shares of Arista Networks during the 4th quarter valued at about $586,051,000. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Arista Networks by 439.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after purchasing an additional 1,025,815 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Arista Networks by 25,188.0% during the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after purchasing an additional 611,312 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Arista Networks by 294.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after purchasing an additional 556,568 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of several research reports. Bank of America boosted their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. KeyCorp boosted their price objective on shares of Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. The Goldman Sachs Group upped their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and upped their target price for the company from $240.00 to $320.00 in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $311.50.

Arista Networks Stock Performance

ANET stock traded up $0.16 during trading on Tuesday, hitting $356.86. 1,577,828 shares of the company’s stock traded hands, compared to its average volume of 2,509,138. The stock has a market capitalization of $111.83 billion, a price-to-earnings ratio of 49.71, a P/E/G ratio of 3.09 and a beta of 1.11. Arista Networks, Inc. has a 52 week low of $149.10 and a 52 week high of $363.28. The business has a fifty day simple moving average of $305.64 and a 200 day simple moving average of $280.58.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Research analysts forecast that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks announced that its board has approved a stock repurchase plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total transaction of $70,543.82. Following the sale, the director now owns 2,976 shares of the company’s stock, valued at approximately $941,427.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total transaction of $70,543.82. Following the sale, the director now owns 2,976 shares of the company’s stock, valued at approximately $941,427.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $317.00, for a total transaction of $7,925,000.00. Following the sale, the chief executive officer now directly owns 1,615,800 shares in the company, valued at approximately $512,208,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,330 shares of company stock worth $65,582,187. Corporate 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.