PFG Private Wealth Management LLC Acquires 3,104 Shares of Arista Networks, Inc. (NYSE:ANET)

PFG Private Wealth Management LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 279.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,215 shares of the technology company’s stock after purchasing an additional 3,104 shares during the period. Arista Networks comprises about 0.3% of PFG Private Wealth Management LLC’s portfolio, making the stock its 28th largest holding. PFG Private Wealth Management LLC’s holdings in Arista Networks were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Zions Bancorporation N.A. grew its position in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC grew its position in shares of Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after acquiring an additional 27 shares during the period. Altman Advisors Inc. grew its position in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares during the period. Beacon Financial Advisory LLC grew its position in shares of Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after acquiring an additional 30 shares during the period. Finally, Anchor Investment Management LLC grew its position 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 valued at $52,000 after acquiring an additional 35 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,289 shares of company stock worth $51,018,617 in the last three months. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Up 2.7 %

Shares of NYSE:ANET opened at $87.83 on Thursday. The firm has a 50 day moving average of $110.13 and a 200-day moving average of $102.14. The stock has a market capitalization of $110.76 billion, a PE ratio of 39.56, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results 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 company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ANET. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.