Global Retirement Partners LLC Acquires 8,688 Shares of Arista Networks, Inc. (NYSE:ANET)

Global Retirement Partners LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 285.3% in the fourth quarter, Holdings Channel reports. The firm owned 11,733 shares of the technology company’s stock after purchasing an additional 8,688 shares during the quarter. Global Retirement Partners LLC’s holdings in Arista Networks were worth $1,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Zions Bancorporation N.A. raised its stake in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC raised its stake in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares in the last quarter. Altman Advisors Inc. raised its stake in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares in the last quarter. HM Payson & Co. raised its stake in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC raised its stake in Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ANET. Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Barclays boosted their target price on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday. The Goldman Sachs Group boosted their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One investment 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, the company has an average rating of “Moderate Buy” and an average price target of $113.79.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,056 shares of company stock worth $30,225,623 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock opened at $98.31 on Friday. The business’s 50 day simple moving average is $113.94 and its 200 day simple moving average is $101.57. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market capitalization of $123.84 billion, a PE ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating 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 business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, research analysts expect that Arista Networks, Inc. will post 2.18 earnings per share for the current year.

Arista Networks Company 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.