Geneva Partners LLC Invests $4.09 Million in Arista Networks, Inc. (NYSE:ANET)

Geneva Partners LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,379 shares of the technology company’s stock, valued at approximately $4,093,000. Arista Networks comprises 2.3% of Geneva Partners LLC’s portfolio, making the stock its 16th biggest holding.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in shares of Arista Networks in the 3rd quarter valued at $28,000. First Command Advisory Services Inc. purchased a new position in Arista Networks during the 3rd quarter worth $29,000. Hollencrest Capital Management purchased a new position in Arista Networks during the 1st quarter worth $30,000. BluePath Capital Management LLC purchased a new position in Arista Networks during the 3rd quarter worth $33,000. Finally, NBC Securities Inc. purchased a new position in Arista Networks during the 3rd quarter worth $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ANET. Morgan Stanley raised their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 8th. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Evercore ISI restated an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Price Performance

ANET traded down $11.20 during midday trading on Friday, reaching $245.99. 2,956,759 shares of the company’s stock were exchanged, compared to its average volume of 2,457,388. The stock has a market capitalization of $76.90 billion, a PE ratio of 37.44, a P/E/G ratio of 2.21 and a beta of 1.09. The business’s 50-day moving average price is $280.29 and its 200 day moving average price is $244.55. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. As a group, analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The disclosure for this sale can be found here. Insiders sold a total of 342,229 shares of company stock worth $97,968,530 over the last ninety days. 18.99% of the stock is currently owned by corporate insiders.

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.