Cetera Investment Advisers Purchases 237,274 Shares of Arista Networks, Inc. (NYSE:ANET)

Cetera Investment Advisers raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 329.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,402 shares of the technology company’s stock after buying an additional 237,274 shares during the quarter. Cetera Investment Advisers’ holdings in Arista Networks were worth $34,198,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Caitlin John LLC grew its holdings in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the last quarter. New Millennium Group LLC increased its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Quarry LP raised its stake in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 206 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 332,355 shares of company stock valued at $30,010,479. 3.39% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ANET shares. The Goldman Sachs Group dropped their price target on Arista Networks from $130.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday. Rosenblatt Securities lifted their price target on Arista Networks from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup upped their price target on shares of Arista Networks from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC lowered their price objective on shares of Arista Networks from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of Arista Networks from $73.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $106.57.

Arista Networks Trading Down 4.7 %

Shares of ANET opened at $86.51 on Thursday. The stock has a market cap of $108.62 billion, a P/E ratio of 38.97, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The stock’s 50-day moving average price is $78.89 and its two-hundred day moving average price is $97.50. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its board has initiated a share buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

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.