Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Guardian Wealth Advisors LLC NC

Guardian Wealth Advisors LLC NC boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 317.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,248 shares of the technology company’s stock after purchasing an additional 1,709 shares during the period. Guardian Wealth Advisors LLC NC’s holdings in Arista Networks were worth $248,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Caitlin John LLC increased its stake in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of 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 acquiring an additional 191 shares during the period. New Millennium Group LLC increased its stake 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 acquiring an additional 195 shares during the period. Cranbrook Wealth Management LLC increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. Finally, Trust Co. of Vermont increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 412,355 shares of company stock valued at $37,216,079 over the last quarter. Company insiders own 3.39% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $86.15 on Monday. The company has a market capitalization of $108.17 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 3.10 and a beta of 1.38. The company’s 50 day simple moving average is $78.94 and its 200 day simple moving average is $97.29. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Arista Networks’s revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ANET shares. JPMorgan Chase & Co. lowered their target price on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. 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. Needham & Company LLC lowered their target price on shares of Arista Networks from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.07.

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.