16,701 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by ZEGA Investments LLC

ZEGA Investments LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,701 shares of the technology company’s stock, valued at approximately $1,846,000.

Other institutional investors have also modified their holdings of the company. Anchor Investment Management LLC boosted its position in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares in the last quarter. Freedom Investment Management Inc. boosted its position in Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after purchasing an additional 36 shares in the last quarter. LRI Investments LLC grew its stake in Arista Networks by 3.1% in the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Arista Networks by 3.8% in the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after purchasing an additional 43 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of Arista Networks by 3.3% during the third quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company’s stock valued at $715,000 after buying an additional 59 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 0.3 %

Shares of NYSE ANET opened at $83.26 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The business’s 50 day moving average price is $102.53 and its 200 day moving average price is $101.60. The firm has a market cap of $104.99 billion, a P/E ratio of 37.50, a P/E/G ratio of 3.10 and a beta of 1.08.

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

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares of the company’s stock, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.