Creative Financial Designs Inc. ADV Buys 1,444 Shares of Arista Networks, Inc. (NYSE:ANET)

Creative Financial Designs Inc. ADV raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 284.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,952 shares of the technology company’s stock after acquiring an additional 1,444 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Arista Networks were worth $216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ANET. IMG Wealth Management Inc. acquired a new stake in shares of Arista Networks during the 4th quarter valued at about $95,000. GLOBALT Investments LLC GA boosted its position in shares of Arista Networks by 301.3% during the 4th quarter. GLOBALT Investments LLC GA now owns 46,001 shares of the technology company’s stock valued at $5,084,000 after acquiring an additional 34,538 shares in the last quarter. Robinson Smith Wealth Advisors LLC acquired a new stake in shares of Arista Networks during the 4th quarter valued at about $218,000. Gallacher Capital Management LLC boosted its position in shares of Arista Networks by 297.8% during the 4th quarter. Gallacher Capital Management LLC now owns 5,211 shares of the technology company’s stock valued at $576,000 after acquiring an additional 3,901 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Arista Networks by 432.3% during the 4th quarter. Harbour Investments Inc. now owns 1,485 shares of the technology company’s stock valued at $164,000 after acquiring an additional 1,206 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 0.5 %

Shares of ANET stock opened at $84.38 on Thursday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm’s 50 day moving average is $103.81 and its 200-day moving average is $101.77. The firm has a market capitalization of $106.42 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ANET. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

About Arista Networks

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.