Avitas Wealth Management LLC Boosts Position in Arista Networks, Inc. (NYSE:ANET)

Avitas Wealth Management LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 297.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,961 shares of the technology company’s stock after buying an additional 24,664 shares during the period. Avitas Wealth Management LLC’s holdings in Arista Networks were worth $3,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC lifted its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont raised its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. New Millennium Group LLC lifted its position in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Westside Investment Management Inc. boosted its stake in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after purchasing an additional 253 shares in the last quarter. Finally, Costello Asset Management INC increased its holdings in Arista Networks by 300.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after buying an additional 225 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. The Goldman Sachs Group upped 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. Barclays dropped their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Insider Buying and Selling

In other news, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the sale, the insider now directly owns 288 shares of the company’s stock, valued at $28,391.76. This represents a 95.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $115.11 on Friday. The business has a fifty day moving average of $112.58 and a 200 day moving average of $99.48. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market capitalization of $145.01 billion, a price-to-earnings ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. As a group, equities research analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

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.