Arista Networks, Inc. (NYSE:ANET) Shares Bought by Sigma Planning Corp

Sigma Planning Corp boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 262.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,254 shares of the technology company’s stock after buying an additional 21,916 shares during the period. Sigma Planning Corp’s holdings in Arista Networks were worth $3,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kintegral Advisory LLC boosted its stake in Arista Networks by 282.2% during the fourth quarter. Kintegral Advisory LLC now owns 12,459 shares of the technology company’s stock worth $1,377,000 after buying an additional 9,199 shares during the last quarter. Thompson Davis & CO. Inc. lifted its stake in shares of Arista Networks by 300.0% in the 4th quarter. Thompson Davis & CO. Inc. now owns 2,600 shares of the technology company’s stock valued at $287,000 after purchasing an additional 1,950 shares during the last quarter. Navellier & Associates Inc. lifted its stake in shares of Arista Networks by 315.6% in the 4th quarter. Navellier & Associates Inc. now owns 61,048 shares of the technology company’s stock valued at $6,748,000 after purchasing an additional 46,359 shares during the last quarter. Leuthold Group LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at $5,216,000. Finally, Peregrine Asset Advisers Inc. lifted its stake in shares of Arista Networks by 300.0% in the 4th quarter. Peregrine Asset Advisers Inc. now owns 6,220 shares of the technology company’s stock valued at $687,000 after purchasing an additional 4,665 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group upped their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays upped their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Price Performance

Shares of NYSE ANET opened at $98.31 on Friday. The stock’s 50-day moving average is $113.66 and its two-hundred day moving average is $101.85. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a market cap of $123.97 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities research analysts anticipate that Arista Networks, Inc. will post 2.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock worth $30,225,623 in the last quarter. 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.