Ritter Daniher Financial Advisory LLC DE Buys 360 Shares of Arista Networks, Inc. (NYSE:ANET)

Ritter Daniher Financial Advisory LLC DE grew its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480 shares of the technology company’s stock after acquiring an additional 360 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in Arista Networks were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Morse Asset Management Inc purchased a new position in Arista Networks in the 3rd quarter worth approximately $123,000. EP Wealth Advisors LLC bought a new position in shares of Arista Networks during the third quarter valued at $6,100,000. iA Global Asset Management Inc. purchased a new stake in shares of Arista Networks during the third quarter valued at $2,961,000. National Bank of Canada FI increased its holdings in Arista Networks by 46.0% in the 3rd quarter. National Bank of Canada FI now owns 186,429 shares of the technology company’s stock worth $71,555,000 after buying an additional 58,718 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in Arista Networks by 0.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,723 shares of the technology company’s stock worth $4,883,000 after buying an additional 97 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

ANET stock opened at $64.28 on Monday. Arista Networks, Inc. has a 12 month low of $57.80 and a 12 month high of $133.58. The firm’s 50-day moving average is $94.01 and its 200 day moving average is $101.37. The company has a market capitalization of $81.07 billion, a PE ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction 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. Over the last ninety days, insiders sold 411,001 shares of company stock worth $39,362,831. 3.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ANET shares. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks has an average 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.