Strata Wealth Advisors LLC Buys New Shares in Arista Networks, Inc. (NYSE:ANET)

Strata Wealth Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,849 shares of the technology company's stock, valued at approximately $1,849,000. Arista Networks makes up about 0.7% of Strata Wealth Advisors LLC's investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in ANET. Larson Financial Group LLC acquired a new position in Arista Networks in the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks in the 3rd quarter valued at about $29,000. Hollencrest Capital Management acquired a new position in Arista Networks in the 1st quarter valued at about $30,000. BluePath Capital Management LLC acquired a new position in Arista Networks in the 3rd quarter valued at about $33,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Trading Down 4.3 %

NYSE ANET traded down $11.10 during trading hours on Friday, reaching $246.09. The company's stock had a trading volume of 2,957,175 shares, compared to its average volume of 2,171,746. The business has a 50-day simple moving average of $280.29 and a 200 day simple moving average of $244.97. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The stock has a market cap of $76.94 billion, a PE ratio of 37.46, a PEG ratio of 2.20 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business earned $1.25 earnings per share. Arista Networks's revenue was up 20.8% compared to the same quarter last year. As a group, equities analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Oppenheimer reiterated a "market perform" rating on shares of Arista Networks in a research report on Tuesday, February 13th. JMP Securities reiterated a "market outperform" rating and set a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. KeyCorp boosted their target price on Arista Networks from $232.00 to $287.00 and gave the stock an "overweight" rating in a research report on Thursday, January 18th. Rosenblatt Securities reissued a "sell" rating and set a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. Finally, Needham & Company LLC reissued a "buy" rating and set a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $275.59.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 4,042 shares of Arista Networks stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $299.99, for a total transaction of $1,212,559.58. Following the completion of the transaction, the chief executive officer now owns 1,628,532 shares in the company, valued at approximately $488,543,314.68. The disclosure for this sale can be found here. Insiders have sold 342,229 shares of company stock worth $97,968,530 over the last quarter. 18.99% of the stock is currently owned by company insiders.

About Arista Networks

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.