Toth Financial Advisory Corp Acquires New Stake in Arista Networks Inc (ANET)

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Toth Financial Advisory Corp acquired a new stake in shares of Arista Networks Inc (NYSE:ANET) in the first quarter, HoldingsChannel reports. The firm acquired 800 shares of the technology company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ANET. Vanguard Group Inc raised its position in shares of Arista Networks by 21.1% during the third quarter. Vanguard Group Inc now owns 5,432,205 shares of the technology company’s stock valued at $1,444,206,000 after buying an additional 946,977 shares during the last quarter. Norges Bank acquired a new position in shares of Arista Networks during the fourth quarter valued at about $116,281,000. Scout Investments Inc. raised its position in shares of Arista Networks by 109.4% during the first quarter. Scout Investments Inc. now owns 489,326 shares of the technology company’s stock valued at $153,873,000 after buying an additional 255,663 shares during the last quarter. Morgan Stanley raised its position in shares of Arista Networks by 95.9% during the third quarter. Morgan Stanley now owns 500,694 shares of the technology company’s stock valued at $133,113,000 after buying an additional 245,087 shares during the last quarter. Finally, Polar Capital LLP raised its position in shares of Arista Networks by 142.8% during the fourth quarter. Polar Capital LLP now owns 347,891 shares of the technology company’s stock valued at $73,301,000 after buying an additional 204,615 shares during the last quarter. 56.33% of the stock is owned by institutional investors and hedge funds.

Shares of Arista Networks stock opened at $327.34 on Tuesday. The company has a current ratio of 4.48, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 1.96 and a beta of 1.51. Arista Networks Inc has a 1-year low of $187.08 and a 1-year high of $329.25.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 14th. The technology company reported $2.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.45. The firm had revenue of $595.70 million for the quarter, compared to analysts’ expectations of $591.41 million. Arista Networks had a net margin of 29.47% and a return on equity of 29.37%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. As a group, equities analysts anticipate that Arista Networks Inc will post 8.24 EPS for the current year.

A number of research analysts have recently commented on ANET shares. Nomura upped their price objective on shares of Arista Networks to $275.00 and gave the company a “buy” rating in a research report on Friday, February 15th. ValuEngine raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Goldman Sachs Group increased their price target on shares of Arista Networks from $300.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Gabelli raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $279.00 price target for the company in a research report on Tuesday, February 19th. Finally, Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the stock. Arista Networks presently has a consensus rating of “Buy” and a consensus price target of $299.61.

In other Arista Networks news, CEO Jayshree Ullal sold 198 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $292.97, for a total transaction of $58,008.06. Following the sale, the chief executive officer now directly owns 10,425 shares of the company’s stock, valued at $3,054,212.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ita M. Brennan sold 5,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.35, for a total transaction of $1,431,750.00. Following the sale, the chief financial officer now directly owns 9,501 shares in the company, valued at $2,720,611.35. The disclosure for this sale can be found here. Insiders have sold 219,229 shares of company stock worth $63,744,447 over the last ninety days. Insiders own 24.95% of the company’s stock.

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Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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