Jackson Creek Investment Advisors LLC Has $1.16 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Jackson Creek Investment Advisors LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 263.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,492 shares of the technology company’s stock after buying an additional 7,602 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Arista Networks were worth $1,160,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks during the 4th quarter worth about $242,000. GHE LLC boosted its position in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its stake in Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $630,000. Finally, Silver Oak Securities Incorporated raised its stake in shares of Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after purchasing an additional 14,843 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted 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. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the company from $112.00 to $115.00 in a report on Wednesday. Citigroup lifted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Evercore ISI upped their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Performance

NYSE:ANET opened at $83.31 on Friday. The firm has a market cap of $105.07 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The firm’s 50-day simple moving average is $108.92 and its 200 day simple moving average is $101.99.

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

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares of the company’s stock, valued at approximately $13,157,209.52. This represents a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 411,289 shares of company stock worth $42,355,417. 3.54% of the stock is currently owned by company insiders.

Arista Networks 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.