Farther Finance Advisors LLC Purchases 12,521 Shares of Arista Networks, Inc. $ANET

Farther Finance Advisors LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 68.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 30,810 shares of the technology company’s stock after buying an additional 12,521 shares during the period. Farther Finance Advisors LLC’s holdings in Arista Networks were worth $4,489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Fragasso Financial Advisors Inc raised its position in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after purchasing an additional 76 shares during the last quarter. Stablepoint Partners LLC boosted its stake in Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares in the last quarter. Glenview Trust co grew its holdings in shares of Arista Networks by 2.5% during the second quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock worth $358,000 after purchasing an additional 84 shares during the last quarter. Finally, Telos Capital Management Inc. increased its stake in shares of Arista Networks by 1.0% in the second quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock valued at $947,000 after buying an additional 88 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director owned 8,980 shares in the company, valued at approximately $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares in the company, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 216,464 shares of company stock valued at $28,598,588. Insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research analyst reports. Needham & Company LLC increased their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. BNP Paribas Exane upgraded shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective for the company in a research report on Thursday, September 25th. Melius Research upped their price objective on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, The Goldman Sachs Group lifted their target price on Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.56.

Arista Networks Stock Down 0.1%

ANET stock opened at $131.13 on Thursday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market cap of $165.12 billion, a P/E ratio of 49.86, a price-to-earnings-growth ratio of 2.51 and a beta of 1.41. The business’s fifty day moving average is $135.53 and its 200-day moving average is $128.68.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.