5,425 Shares in Arista Networks, Inc. $ANET Bought by Formidable Asset Management LLC

Formidable Asset Management LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, HoldingsChannel reports. The fund acquired 5,425 shares of the technology company’s stock, valued at approximately $790,000.

Several other hedge funds also recently bought and sold shares of ANET. AdvisorNet Financial Inc grew its stake 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 valued at $29,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares during the last quarter. Bare Financial Services Inc raised its holdings in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares during the last quarter. Finally, REAP Financial Group LLC boosted 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. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Down 0.5%

Arista Networks stock opened at $129.96 on Tuesday. The business has a 50 day moving average price of $128.65 and a two-hundred day moving average price of $133.30. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a market cap of $163.66 billion, a price-to-earnings ratio of 49.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41.

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price for the company in a research report on Thursday, September 25th. UBS Group reissued a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research report on Wednesday, December 3rd. Morgan Stanley decreased their price objective on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares in the company, valued at approximately $1,052,007. This represents a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 160,464 shares of company stock worth $20,494,988. Insiders own 3.54% 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.