Bell Asset Management Ltd Has $4.93 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Bell Asset Management Ltd lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 177.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,592 shares of the technology company’s stock after buying an additional 28,546 shares during the quarter. Bell Asset Management Ltd’s holdings in Arista Networks were worth $4,929,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC grew its position in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the period. Caitlin John LLC grew its holdings in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the period. New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,001 shares of company stock valued at $39,362,831. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

NYSE ANET opened at $64.28 on Monday. The company’s 50 day simple moving average is $94.01 and its two-hundred day simple moving average is $101.37. Arista Networks, Inc. has a 1 year low of $57.80 and a 1 year high of $133.58. The stock has a market capitalization of $81.07 billion, a PE ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.