Trek Financial LLC Purchases 1,858 Shares of Arista Networks, Inc. (NYSE:ANET)

Trek Financial LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 309.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,458 shares of the technology company’s stock after buying an additional 1,858 shares during the period. Trek Financial LLC’s holdings in Arista Networks were worth $272,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ANET. Vanguard Group Inc. raised its position in Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after purchasing an additional 72,311,318 shares in the last quarter. FMR LLC raised its holdings in shares of Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after buying an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after buying an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. grew its position in Arista Networks by 218.5% in the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares during the last quarter. Finally, Norges Bank acquired a new position in Arista Networks during the fourth quarter worth about $1,397,833,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

Arista Networks stock opened at $68.12 on Tuesday. The stock has a market capitalization of $85.91 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The stock’s 50 day moving average price is $93.37 and its two-hundred day moving average price is $101.18.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANET. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,001 shares of company stock worth $39,362,831 in the last three months. Company insiders own 3.54% of the company’s stock.

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.