Robbins Farley Has $4.80 Million Holdings in Arista Networks, Inc. $ANET

Robbins Farley lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,646 shares of the technology company’s stock after selling 3,940 shares during the period. Arista Networks makes up approximately 2.2% of Robbins Farley’s holdings, making the stock its 19th biggest position. Robbins Farley’s holdings in Arista Networks were worth $4,802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Walkner Condon Financial Advisors LLC lifted its position in shares of Arista Networks by 0.4% in the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock worth $2,697,000 after buying an additional 70 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the last quarter. Crown Wealth Group LLC lifted its position in shares of Arista Networks by 2.4% during the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after purchasing an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc lifted its position in shares of Arista Networks by 1.8% during the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after purchasing an additional 76 shares during the last quarter. Finally, West Family Investments Inc. lifted its position in shares of Arista Networks by 0.9% during the 3rd quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock worth $1,219,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 0.8%

Arista Networks stock opened at $147.27 on Friday. The business has a 50 day moving average price of $133.97 and a two-hundred day moving average price of $135.85. The stock has a market cap of $185.05 billion, a price-to-earnings ratio of 53.36, a price-to-earnings-growth ratio of 2.60 and a beta of 1.48. Arista Networks, Inc. has a 12 month low of $66.59 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. On average, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TD Cowen assumed coverage on Arista Networks in a research report on Thursday, March 12th. They set a “buy” rating and a $170.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. Evercore reissued an “outperform” rating and set a $200.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and set a $188.00 price objective (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Needham & Company LLC boosted their price objective on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $176.44.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the transaction, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This represents a 44.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 199,632 shares of company stock valued at $26,873,604 in the last quarter. Corporate insiders own 3.39% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.