Friedenthal Financial Purchases New Position in Arista Networks, Inc. $ANET

Friedenthal Financial acquired a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, Holdings Channel reports. The firm acquired 6,583 shares of the technology company’s stock, valued at approximately $959,000.

Several other large investors have also bought and sold shares of the company. Bare Financial Services Inc raised its position in shares of Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares in the last quarter. Saudi Central Bank purchased a new stake in Arista Networks in the first quarter worth $33,000. REAP Financial Group LLC raised its holdings in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Finally, eCIO Inc. purchased a new position in Arista Networks during the first quarter valued at $36,000. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on ANET shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research report on Monday. Melius Research upped their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. UBS Group reiterated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their price target on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Finally, Needham & Company LLC raised their price objective on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $163.56.

Arista Networks Stock Up 0.4%

Shares of ANET opened at $131.29 on Wednesday. The company has a market capitalization of $165.33 billion, a P/E ratio of 49.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.41. The firm has a 50 day moving average of $135.78 and a 200 day moving average of $128.67. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company’s revenue was up 27.5% compared to the same quarter last year. During the same period last year, the business posted $2.40 EPS. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the sale, the director owned 8,980 shares of the company’s stock, valued at $1,052,007. This trade represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the transaction, the director directly owned 25,784 shares of the company’s stock, valued at $3,302,672.56. The trade was a 23.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 216,464 shares of company stock valued at $28,598,588. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Profile

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.