Riverview Trust Co Purchases 675 Shares of Arista Networks, Inc. (NYSE:ANET)

Riverview Trust Co boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 900 shares of the technology company’s stock after buying an additional 675 shares during the quarter. Riverview Trust Co’s holdings in Arista Networks were worth $99,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ANET. SRS Capital Advisors Inc. grew its stake in shares of Arista Networks by 356.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,300 shares of the technology company’s stock valued at $144,000 after acquiring an additional 1,015 shares during the period. Clifford Swan Investment Counsel LLC boosted its position in shares of Arista Networks by 289.4% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 613,781 shares of the technology company’s stock worth $67,841,000 after purchasing an additional 456,148 shares during the period. Norden Group LLC bought a new position in shares of Arista Networks in the fourth quarter worth approximately $270,000. Smartleaf Asset Management LLC boosted its position in shares of Arista Networks by 332.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,524 shares of the technology company’s stock worth $1,062,000 after purchasing an additional 7,322 shares during the period. Finally, Mitchell Capital Management Co. boosted its holdings in Arista Networks by 293.5% in the 4th quarter. Mitchell Capital Management Co. now owns 104,724 shares of the technology company’s stock worth $11,575,000 after buying an additional 78,108 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $93.10 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The firm has a market cap of $117.41 billion, a P/E ratio of 41.94, a P/E/G ratio of 3.10 and a beta of 1.09. The firm has a 50-day simple moving average of $111.80 and a 200-day simple moving average of $102.19.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 17,433 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the transaction, the insider now owns 17,433 shares in the company, valued at $1,623,709.62. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 433,441 shares of company stock worth $46,538,462. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ANET. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. The Goldman Sachs Group upped their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group upped their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Wells Fargo & Company upped their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.79.

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.