Signaturefd LLC Has $2.49 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Signaturefd LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 297.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,549 shares of the technology company’s stock after buying an additional 16,878 shares during the period. Signaturefd LLC’s holdings in Arista Networks were worth $2,492,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Altman Advisors Inc. grew its holdings in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after buying an additional 28 shares during the period. Anchor Investment Management LLC grew its position in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Freedom Investment Management Inc. boosted its holdings in shares of Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after buying an additional 36 shares during the period. LRI Investments LLC boosted its stake in Arista Networks by 3.1% in the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock worth $528,000 after purchasing an additional 41 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in shares of Arista Networks by 3.8% during the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $85.06 on Tuesday. The stock has a market cap of $107.27 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The company has a fifty day moving average price of $105.07 and a two-hundred day moving average price of $101.92. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business 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%. Research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now directly owns 163,784 shares in the company, valued at $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities restated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and increased their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price 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.