Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,764 shares of the technology company’s stock after purchasing an additional 185,073 shares during the quarter. Arista Networks comprises approximately 1.0% of Adams Diversified Equity Fund Inc.’s portfolio, making the stock its 21st biggest position. Adams Diversified Equity Fund Inc.’s holdings in Arista Networks were worth $27,275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC boosted its holdings in Arista Networks by 236.2% in the fourth quarter. TD Private Client Wealth LLC now owns 18,246 shares of the technology company’s stock valued at $2,017,000 after purchasing an additional 12,819 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in Arista Networks in the fourth quarter valued at approximately $559,000. Independent Solutions Wealth Management LLC lifted its stake in Arista Networks by 294.2% in the fourth quarter. Independent Solutions Wealth Management LLC now owns 30,935 shares of the technology company’s stock valued at $3,419,000 after buying an additional 23,087 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Arista Networks by 299.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 14,181 shares of the technology company’s stock valued at $1,567,000 after buying an additional 10,633 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its stake in Arista Networks by 300.0% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 8,120 shares of the technology company’s stock valued at $898,000 after buying an additional 6,090 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ANET. Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Citigroup boosted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $82.85 on Friday. The stock has a fifty day moving average price of $103.15 and a two-hundred day moving average price of $101.64. The stock has a market capitalization of $104.48 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (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 analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.