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

Guardian Wealth Advisors LLC NC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 317.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. FMR LLC grew its holdings in Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Arista Networks by 277.5% during the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,168,748.32. The trade was a 86.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $88.58, for a total transaction of $708,640.00. Following the completion of the sale, the director now owns 131,784 shares of the company’s stock, valued at $11,673,426.72. This trade represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,355 shares of company stock worth $37,216,079 over the last ninety days. 3.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ANET shares. Needham & Company LLC reduced their price target 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. Evercore ISI reduced their price target on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Rosenblatt Securities raised their price target on shares of Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Citigroup raised their price target on shares of Arista Networks from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, Barclays reduced their price target on shares of Arista Networks from $126.00 to $119.00 and set an “overweight” rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.07.

Arista Networks Stock Performance

Shares of ANET opened at $86.15 on Monday. The company’s 50 day moving average price is $78.94 and its 200 day moving average price is $97.29. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The company has a market capitalization of $108.17 billion, a PE ratio of 38.81, a PEG ratio of 3.10 and a beta of 1.38.

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

Arista Networks declared that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.