Bigelow Investment Advisors LLC Buys 47 Shares of Arista Networks, Inc. (NYSE:ANET)

Bigelow Investment Advisors LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,966 shares of the technology company’s stock after purchasing an additional 47 shares during the period. Bigelow Investment Advisors LLC’s holdings in Arista Networks were worth $463,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Larson Financial Group LLC bought a new position in shares of Arista Networks in the third quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in Arista Networks in the third quarter valued at $29,000. Hollencrest Capital Management bought a new position in shares of Arista Networks in the 1st quarter valued at about $30,000. BluePath Capital Management LLC bought a new stake in shares of Arista Networks in the 3rd quarter valued at about $33,000. Finally, NBC Securities Inc. bought a new stake in shares of Arista Networks in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock traded down $11.10 during midday trading on Friday, reaching $246.09. The company had a trading volume of 2,925,059 shares, compared to its average volume of 2,456,835. The company has a market capitalization of $76.94 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The stock has a 50 day moving average price of $281.02 and a 200-day moving average price of $244.15.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ANET. JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Piper Sandler upped their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Finally, KeyCorp lifted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jayshree Ullal sold 733 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $268.15, for a total transaction of $196,553.95. Following the completion of the transaction, the chief executive officer now directly owns 74,031 shares in the company, valued at $19,851,412.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $940,922.20. The disclosure for this sale can be found here. Insiders sold 342,229 shares of company stock worth $97,968,530 over the last three months. Insiders own 18.99% of the company’s stock.

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.