2,036 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Lyell Wealth Management LP

Lyell Wealth Management LP purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,036 shares of the technology company’s stock, valued at approximately $225,000.

A number of other large investors also recently added to or reduced their stakes in the business. Zions Bancorporation N.A. lifted its holdings in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC lifted its holdings in Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares in the last quarter. Altman Advisors Inc. lifted its holdings in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares in the last quarter. HM Payson & Co. increased its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC increased its stake in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after acquiring an additional 30 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 6.5 %

ANET opened at $103.82 on Thursday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The business’s fifty day simple moving average is $114.08 and its 200-day simple moving average is $101.54. The company has a market capitalization of $130.79 billion, a price-to-earnings ratio of 49.91, a PEG ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, equities research analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ANET shares. Morgan Stanley lifted their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. UBS Group lifted their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday. Finally, Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $113.79.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 259,944 shares of company stock valued at $30,214,186 over the last quarter. 3.54% of the stock is owned by corporate insiders.

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.