Norden Group LLC Invests $270,000 in Arista Networks, Inc. (NYSE:ANET)

Norden Group LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,440 shares of the technology company’s stock, valued at approximately $270,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ANET. MidAtlantic Capital Management Inc. acquired a new stake in shares of Arista Networks in the third quarter valued at about $44,000. True Wealth Design LLC boosted its holdings in Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the last quarter. Anchor Investment Management LLC increased its stake in Arista Networks by 35.0% during 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 in the last quarter. Transcendent Capital Group LLC increased its stake in Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Arista Networks by 52.5% during the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, UBS Group upped their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Price Performance

Shares of NYSE ANET opened at $85.26 on Wednesday. The company has a market capitalization of $107.53 billion, a P/E ratio of 38.41, a P/E/G ratio of 3.10 and a beta of 1.09. The company has a 50 day simple moving average of $110.66 and a 200-day simple moving average of $102.25. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 431,441 shares of company stock worth $45,713,162. Company insiders own 3.54% of the company’s stock.

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.