Arista Networks, Inc. (NYSE:ANET) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 324.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,871 shares of the technology company’s stock after acquiring an additional 63,367 shares during the period. Advisors Asset Management Inc.’s holdings in Arista Networks were worth $9,160,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ANET. Quest Partners LLC boosted its holdings in shares of Arista Networks by 149.2% during the third quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock worth $1,112,000 after purchasing an additional 1,734 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Arista Networks during the 3rd quarter valued at about $44,000. OneAscent Wealth Management LLC purchased a new position in shares of Arista Networks during the 3rd quarter worth about $337,000. Pathstone Holdings LLC boosted its position in shares of Arista Networks by 6.4% in the third quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company’s stock worth $9,863,000 after acquiring an additional 1,554 shares during the last quarter. Finally, Caprock Group LLC grew its holdings in Arista Networks by 24.8% in the third quarter. Caprock Group LLC now owns 7,429 shares of the technology company’s stock valued at $2,851,000 after purchasing an additional 1,475 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Trading Down 1.3 %

Shares of ANET stock opened at $83.96 on Wednesday. The firm has a fifty day simple moving average of $104.44 and a 200-day simple moving average of $101.89. The company has a market capitalization of $105.88 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The sale was disclosed in a legal filing 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 dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 in the last 90 days. 3.54% of the stock is 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.