Retirement Capital Strategies Raises Position in Arista Networks, Inc. (NYSE:ANET)

Retirement Capital Strategies grew its position in Arista Networks, Inc. (NYSE:ANET) by 300.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,708 shares of the technology company’s stock after buying an additional 23,785 shares during the period. Arista Networks makes up about 1.3% of Retirement Capital Strategies’ investment portfolio, making the stock its 20th largest holding. Retirement Capital Strategies’ holdings in Arista Networks were worth $3,505,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Stock Yards Bank & Trust Co. bought a new position in Arista Networks during the fourth quarter valued at approximately $242,000. GHE LLC lifted its position in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC lifted its position in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares during the period. Unified Investment Management bought a new position in Arista Networks during the fourth quarter valued at approximately $630,000. Finally, Silver Oak Securities Incorporated lifted its position in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,001 shares of company stock valued at $49,112,111. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $77.53 on Tuesday. The firm has a fifty day moving average price of $108.24 and a 200-day moving average price of $102.10. The stock has a market cap of $97.77 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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 firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.