Fidelis Capital Partners LLC Buys 51 Shares of Arista Networks, Inc. (NYSE:ANET)

Fidelis Capital Partners LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,943 shares of the technology company’s stock after buying an additional 51 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Arista Networks were worth $458,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. AXQ Capital LP bought a new stake in shares of Arista Networks during the third quarter worth $791,000. Advisor Resource Council increased its stake in shares of Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after buying an additional 5,866 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after buying an additional 194 shares during the period. WCM Investment Management LLC increased its stake in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after buying an additional 16,081 shares during the period. Finally, Cambridge Trust Co. increased its stake in shares of Arista Networks by 70.1% during the third quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after buying an additional 20,704 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

ANET opened at $245.99 on Friday. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The company has a market cap of $76.90 billion, a P/E ratio of 37.44, a PEG ratio of 2.21 and a beta of 1.09. The business’s 50-day simple moving average is $280.29 and its 200-day simple moving average is $244.55.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for 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 firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. As a group, analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ANET. Morgan Stanley lifted their target price on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Barclays lifted their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. KeyCorp lifted their target price on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, CEO Jayshree Ullal sold 4,042 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $299.99, for a total transaction of $1,212,559.58. Following the completion of the sale, the chief executive officer now directly owns 1,628,532 shares of the company’s stock, valued at approximately $488,543,314.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The disclosure for this sale can be found here. Insiders have sold 342,229 shares of company stock worth $97,968,530 in the last quarter. 18.99% of the stock is owned by insiders.

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.