GC Wealth Management RIA LLC Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

GC Wealth Management RIA LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 537.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,255 shares of the technology company’s stock after buying an additional 3,588 shares during the period. GC Wealth Management RIA LLC’s holdings in Arista Networks were worth $470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Swedbank AB lifted its stake in shares of Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after purchasing an additional 4,919,882 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after buying an additional 4,512,166 shares during the last quarter. Finally, Amundi grew its position in shares of Arista Networks by 196.3% during the fourth quarter. Amundi now owns 6,342,064 shares of the technology company’s stock worth $732,493,000 after buying an additional 4,201,973 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 in the last three months. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $79.07 on Wednesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The company has a 50-day simple moving average of $107.62 and a 200-day simple moving average of $102.03. The firm has a market capitalization of $99.72 billion, a P/E ratio of 35.62, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Barclays reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.00.

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.