Sage Mountain Advisors LLC Acquires 3,651 Shares of Arista Networks, Inc. (NYSE:ANET)

Sage Mountain Advisors LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 378.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,617 shares of the technology company’s stock after purchasing an additional 3,651 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Arista Networks were worth $510,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $242,000. GHE LLC raised 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 worth $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC lifted 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 acquiring an additional 7,466 shares during the last quarter. Unified Investment Management bought a new position in shares of Arista Networks in the 4th quarter valued at about $630,000. Finally, Silver Oak Securities Incorporated increased 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 during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 1.9 %

Shares of Arista Networks stock opened at $79.07 on Wednesday. The stock has a market capitalization of $99.72 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The company has a 50-day simple moving average of $107.62 and a two-hundred day simple moving average of $102.03.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate 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 anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ANET shares. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.