Terra Nova Asset Management LLC Acquires New Holdings in Arista Networks, Inc. (NYSE:ANET)

Terra Nova Asset Management LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,120 shares of the technology company’s stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. Larson Financial Group LLC acquired a new position in Arista Networks during the third quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in Arista Networks during the third quarter worth about $29,000. Hollencrest Capital Management purchased a new position in Arista Networks during the first quarter valued at approximately $30,000. BluePath Capital Management LLC acquired a new position in Arista Networks in the third quarter valued at approximately $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks in the 3rd quarter worth approximately $33,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 0.5 %

Shares of ANET opened at $289.96 on Friday. The firm’s 50 day moving average price is $275.24 and its 200 day moving average price is $233.38. The company has a market cap of $90.65 billion, a P/E ratio of 44.13, a PEG ratio of 2.49 and a beta of 1.10. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. Research analysts forecast that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. KeyCorp lifted their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Finally, The Goldman Sachs Group raised their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $301.45, for a total transaction of $6,631,900.00. Following the transaction, the chief executive officer now directly owns 1,660,800 shares of the company’s stock, valued at approximately $500,648,160. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $301.45, for a total value of $6,631,900.00. Following the sale, the chief executive officer now directly owns 1,660,800 shares of the company’s stock, valued at approximately $500,648,160. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $234.00, for a total transaction of $243,360.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 286,084 shares of company stock worth $79,741,091. Company insiders own 18.99% of the company’s stock.

Arista Networks Profile

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.