Ausdal Financial Partners Inc. Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Ausdal Financial Partners Inc. increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 740.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,489 shares of the technology company’s stock after purchasing an additional 4,836 shares during the period. Ausdal Financial Partners Inc.’s holdings in Arista Networks were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its holdings in Arista Networks by 32.1% during the 3rd quarter. Fisher Asset Management LLC now owns 6,717 shares of the technology company’s stock valued at $2,578,000 after acquiring an additional 1,633 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Arista Networks by 5.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,388 shares of the technology company’s stock valued at $533,000 after acquiring an additional 77 shares in the last quarter. Qsemble Capital Management LP bought a new position in Arista Networks in the third quarter worth approximately $329,000. D.A. Davidson & CO. increased its holdings in Arista Networks by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock worth $1,980,000 after purchasing an additional 64 shares during the period. Finally, Townsquare Capital LLC lifted its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. Townsquare Capital LLC now owns 7,769 shares of the technology company’s stock worth $2,982,000 after buying an additional 288 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Down 3.1 %

NYSE:ANET opened at $79.11 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The company has a market cap of $99.77 billion, a PE ratio of 35.63, a P/E/G ratio of 3.10 and a beta of 1.08. The company’s 50 day moving average is $100.00 and its two-hundred day moving average is $101.68.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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 firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ANET. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $114.00.

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.