Arista Networks, Inc. $ANET Shares Acquired by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 33.2% in the third quarter, HoldingsChannel.com reports. The firm owned 111,204 shares of the technology company’s stock after acquiring an additional 27,708 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Arista Networks were worth $16,204,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Bare Financial Services Inc increased its holdings in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares during the period. REAP Financial Group LLC lifted its stake in Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its position in Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on ANET shares. Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. UBS Group restated a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Barclays reissued an “overweight” rating and set a $183.00 target price (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.44.

Arista Networks Price Performance

Arista Networks stock opened at $148.11 on Friday. The stock has a market cap of $186.51 billion, a PE ratio of 56.31, a P/E/G ratio of 2.53 and a beta of 1.41. The stock’s fifty day moving average is $130.50 and its two-hundred day moving average is $134.85. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.40 EPS. On average, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the sale, the director owned 17,784 shares in the company, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the sale, the insider owned 522,400 shares in the company, valued at $67,091,832. This represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,464 shares of company stock worth $27,687,068 in the last ninety days. Company insiders own 3.39% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.