Kovack Advisors Inc. Has $926,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Kovack Advisors Inc. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 296.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,378 shares of the technology company’s stock after purchasing an additional 6,263 shares during the quarter. Kovack Advisors Inc.’s holdings in Arista Networks were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont grew its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC increased its stake in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Shares of ANET opened at $91.50 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a market capitalization of $115.40 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 3.10 and a beta of 1.09. The stock has a fifty day moving average of $112.19 and a 200-day moving average of $102.02.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In related news, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the completion of the transaction, the insider now directly owns 17,433 shares of the company’s stock, valued at $1,623,709.62. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 416,008 shares of company stock worth $44,854,958 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ANET. Wells Fargo & Company increased their target price on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Citigroup boosted their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks 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.