CSM Advisors LLC Makes New Investment in Arista Networks, Inc. $ANET

CSM Advisors LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,841 shares of the technology company’s stock, valued at approximately $1,726,000.

A number of other institutional investors have also made changes to their positions in ANET. AdvisorNet Financial Inc boosted 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 purchasing an additional 72 shares during the period. Knuff & Co LLC purchased a new stake in Arista Networks during the 3rd quarter worth $29,000. Richardson Financial Services Inc. lifted its holdings in Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares in the last quarter. Bare Financial Services Inc lifted 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 worth $25,000 after buying an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted 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 buying an additional 235 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Evercore reiterated an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Wells Fargo & Company raised their price objective on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, Needham & Company LLC lifted their price objective on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.47.

Arista Networks Price Performance

Shares of ANET stock opened at $135.37 on Tuesday. The firm has a fifty day moving average of $134.82 and a two-hundred day moving average of $137.34. The firm has a market cap of $170.09 billion, a P/E ratio of 49.05, a P/E/G ratio of 2.37 and a beta of 1.46. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $128.67, for a total value of $1,029,360.00. Following the completion of the transaction, the director owned 1,784 shares in the company, valued at approximately $229,547.28. This trade represents a 81.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the sale, the director owned 12,574 shares of the company’s stock, valued at $1,665,300.56. This trade represents a 12.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 196,237 shares of company stock valued at $25,865,760 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Profile

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.