950 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Keel Point LLC

Keel Point LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 950 shares of the technology company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sandy Spring Bank boosted its position in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Arista Networks by 2.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after acquiring an additional 41 shares during the period. Purus Wealth Management LLC boosted its holdings in shares of Arista Networks by 0.5% during the fourth quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after acquiring an additional 43 shares during the period. Congress Park Capital LLC grew its position in shares of Arista Networks by 0.6% during the fourth quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock worth $1,823,000 after acquiring an additional 43 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC increased its holdings in shares of Arista Networks by 0.7% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,394 shares of the technology company’s stock worth $1,506,000 after acquiring an additional 44 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Morgan Stanley raised their price target on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Price Performance

ANET stock opened at $262.81 on Wednesday. The firm has a market cap of $82.16 billion, a PE ratio of 40.00, a P/E/G ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The firm has a 50 day simple moving average of $281.54 and a 200 day simple moving average of $243.95.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the sale, the chief executive officer now owns 82,766 shares in the company, valued at approximately $21,320,521.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of Arista Networks stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the transaction, the chief executive officer now directly owns 82,766 shares in the company, valued at approximately $21,320,521.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the sale, the director now directly owns 2,678 shares in the company, valued at $700,055.98. The disclosure for this sale can be found here. Insiders sold a total of 361,036 shares of company stock valued at $102,813,921 over the last three months. Insiders own 18.99% of the company’s stock.

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.