Peak Financial Advisors LLC Buys New Stake in Arista Networks, Inc. $ANET

Peak Financial Advisors LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,863 shares of the technology company’s stock, valued at approximately $637,000.

Other large investors also recently added to or reduced their stakes in the company. Bare Financial Services Inc grew its stake in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Arista Networks during the 4th quarter worth about $26,000. AdvisorNet Financial Inc lifted its stake in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Knuff & Co LLC purchased a new position in Arista Networks during the 3rd quarter valued at about $29,000. Finally, Richardson Financial Services Inc. grew its position in 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 acquiring an additional 130 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ANET shares. TD Cowen started coverage on shares of Arista Networks in a research note on Thursday, March 12th. They set a “buy” rating and a $170.00 price target on the stock. Evercore restated an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a report on Friday, February 13th. The Goldman Sachs Group reaffirmed 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. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Arista Networks in a report on Friday, February 13th. Finally, Wells Fargo & Company raised their price target on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $176.47.

Arista Networks Stock Performance

Shares of ANET opened at $134.87 on Thursday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The stock has a market capitalization of $169.47 billion, a PE ratio of 48.87, a PEG ratio of 2.32 and a beta of 1.46. The stock has a 50-day simple moving average of $135.83 and a 200-day simple moving average of $137.14.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total transaction of $54,041.32. Following the completion of the sale, the director directly owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Duda sold 32,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,740,600.64. The trade was a 71.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 199,632 shares of company stock valued at $26,936,324. 3.39% of the stock is currently owned by company insiders.

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.