First Washington CORP Increases Position in Arista Networks, Inc. (NYSE:ANET)

First Washington CORP raised its stake in Arista Networks, Inc. (NYSE:ANET) by 386.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,880 shares of the technology company’s stock after buying an additional 37,237 shares during the period. Arista Networks makes up approximately 1.8% of First Washington CORP’s holdings, making the stock its 19th largest holding. First Washington CORP’s holdings in Arista Networks were worth $5,182,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stock Yards Bank & Trust Co. acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $242,000. GHE LLC lifted its position in shares of Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC increased its position in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in Arista Networks in the 4th quarter valued at about $630,000. Finally, Berkshire Capital Holdings Inc. boosted its stake in shares of Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ANET shares. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup decreased their price target on Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective 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 given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $106.07.

Arista Networks Trading Down 1.1 %

Shares of NYSE ANET opened at $71.11 on Friday. The stock has a fifty day moving average price of $84.23 and a 200 day moving average price of $99.27. The company has a market cap of $89.67 billion, a P/E ratio of 32.03, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET) last announced its earnings results 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 the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,031 shares of company stock valued at $39,364,943 in the last quarter. Company insiders own 3.54% of the company’s stock.

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.