Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Money Concepts Capital Corp

Money Concepts Capital Corp lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 312.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,408 shares of the technology company’s stock after buying an additional 2,581 shares during the period. Money Concepts Capital Corp’s holdings in Arista Networks were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its stake in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares during the period. Swedbank AB lifted its stake in shares of Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares during the period. Geode Capital Management LLC lifted its stake in shares of Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after buying an additional 236,151 shares during the period. Jennison Associates LLC lifted its stake in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after buying an additional 3,496,497 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock worth $1,021,228,000 after buying an additional 492,615 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Down 0.3 %

Shares of Arista Networks stock opened at $115.11 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The firm has a market capitalization of $145.01 billion, a PE ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. The firm’s 50-day moving average price is $112.58 and its 200 day moving average price is $99.48.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $0.41 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ANET. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group raised their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group boosted their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays decreased their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,832 shares of company stock worth $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Company 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.