Patton Fund Management Inc. Has $5.02 Million Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• Patton Fund Management boosted its stake in Arista Networks by 92.8% in Q4, owning 38,283 shares valued at about $5.02 million after buying an additional 18,425 shares.
• Arista posted a solid quarter with $0.82 EPS (vs. $0.75 est.) and $2.49B revenue (vs. $2.38B est.), revenue up 28.9% year-over-year and strong profitability (net margin 38.99%, ROE 30.37%).
• Analyst sentiment is broadly positive—MarketBeat shows a consensus rating of "Moderate Buy" with an average target of $176.44, and several firms recently raised ratings and price targets.

Patton Fund Management Inc. grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 92.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,283 shares of the technology company's stock after buying an additional 18,425 shares during the period. Patton Fund Management Inc.'s holdings in Arista Networks were worth $5,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Board of the Pension Protection Fund bought a new stake in shares of Arista Networks during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc boosted its position in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company's stock valued at $29,000 after purchasing an additional 72 shares in the last quarter. Knuff & Co LLC bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $29,000. Ameliora Wealth Management Ltd. bought a new stake in shares of Arista Networks during the 4th quarter valued at about $30,000. Finally, Richardson Financial Services Inc. boosted its position in shares of Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company's stock valued at $32,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ANET shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Arista Networks in a report on Friday, March 27th. Evercore reissued an "outperform" rating and issued a $200.00 target price on shares of Arista Networks in a research report on Friday, February 13th. Needham & Company LLC lifted their price target on Arista Networks from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, February 13th. Rosenblatt Securities upgraded Arista Networks from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $165.00 to $180.00 in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company boosted their target price on Arista Networks from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $176.44.

Arista Networks Trading Up 3.1%

ANET opened at $151.93 on Tuesday. The stock has a 50-day moving average price of $134.24 and a 200-day moving average price of $135.87. Arista Networks, Inc. has a 12-month low of $66.59 and a 12-month high of $164.94. The stock has a market capitalization of $190.90 billion, a P/E ratio of 55.05, a PEG ratio of 2.60 and a beta of 1.48.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the transaction, the director owned 12,574 shares of the company's stock, valued at $1,665,300.56. This represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares of the company's stock, valued at $1,373,967.12. The trade was a 44.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 199,632 shares of company stock valued at $26,873,604 in the last 90 days. 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.

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