21,206 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Hershey Financial Advisers LLC

Hershey Financial Advisers LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,206 shares of the technology company’s stock, valued at approximately $2,344,000. Arista Networks accounts for approximately 2.1% of Hershey Financial Advisers LLC’s portfolio, making the stock its 13th largest holding.

A number of other large investors have also modified their holdings of the company. Caitlin John LLC increased its stake in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its stake in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC increased its stake in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont increased its stake in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC increased its stake in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANET. 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. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup raised their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities restated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Performance

ANET stock opened at $83.26 on Monday. The stock has a market cap of $104.99 billion, a P/E ratio of 37.50, a P/E/G ratio of 3.10 and a beta of 1.08. The firm has a 50 day simple moving average of $102.53 and a 200 day simple moving average of $101.89. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET) last posted its quarterly 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. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is 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.