Axxcess Wealth Management LLC Purchases 40,725 Shares of Arista Networks, Inc. (NYSE:ANET)

Axxcess Wealth Management LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 320.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,435 shares of the technology company’s stock after acquiring an additional 40,725 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Arista Networks were worth $5,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC boosted its stake in Arista Networks by 149.2% during the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 1,734 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Arista Networks during the 3rd quarter worth about $44,000. OneAscent Wealth Management LLC bought a new position in Arista Networks in the third quarter valued at approximately $337,000. Pathstone Holdings LLC increased its holdings in Arista Networks by 6.4% during the third quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company’s stock worth $9,863,000 after buying an additional 1,554 shares during the last quarter. Finally, Caprock Group LLC grew its holdings in Arista Networks by 24.8% during the third quarter. Caprock Group LLC now owns 7,429 shares of the technology company’s stock worth $2,851,000 after purchasing an additional 1,475 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 1.3 %

Shares of Arista Networks stock opened at $83.96 on Wednesday. The firm has a market cap of $105.88 billion, a PE ratio of 37.82, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The stock has a 50 day moving average of $104.44 and a 200 day moving average of $101.89.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ANET shares. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Evercore ISI upped their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’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 transaction of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 in the last 90 days. 3.54% of the stock is currently owned by company insiders.

Arista Networks 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.