Signature Estate & Investment Advisors LLC Acquires Shares of 14,220 Arista Networks, Inc. (NYSE:ANET)

Signature Estate & Investment Advisors LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,220 shares of the technology company’s stock, valued at approximately $1,572,000.

A number of other large investors also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Arista Networks during the third quarter valued at $1,417,000. Cerity Partners LLC raised its holdings in Arista Networks by 50.4% during the 3rd quarter. Cerity Partners LLC now owns 33,454 shares of the technology company’s stock worth $12,409,000 after purchasing an additional 11,216 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Arista Networks by 1.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 4,169 shares of the technology company’s stock valued at $1,600,000 after purchasing an additional 63 shares during the period. Larson Financial Group LLC boosted its stake in shares of Arista Networks by 5.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,218 shares of the technology company’s stock valued at $467,000 after purchasing an additional 61 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in shares of Arista Networks by 11.3% during the 3rd quarter. Centaurus Financial Inc. now owns 2,285 shares of the technology company’s stock worth $877,000 after buying an additional 232 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANET has been the topic of several analyst reports. Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. 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 company. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Performance

Shares of ANET stock opened at $86.87 on Wednesday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The company’s 50 day moving average price is $101.47 and its two-hundred day moving average price is $101.98. The company has a market capitalization of $109.55 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now directly owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last three months. Corporate insiders own 3.54% of the company’s stock.

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.