Alpha Cubed Investments LLC Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Alpha Cubed Investments LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,008 shares of the technology company’s stock, valued at approximately $237,000.

Other institutional investors have also made changes to their positions in the company. Sandy Spring Bank boosted its holdings in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares during the period. Fulton Breakefield Broenniman LLC boosted its stake in Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after purchasing an additional 40 shares during the period. Venturi Wealth Management LLC grew its holdings in Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after buying an additional 41 shares during the last quarter. PDS Planning Inc increased its position in Arista Networks by 3.1% in the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock worth $324,000 after buying an additional 41 shares during the period. Finally, Purus Wealth Management LLC increased its position in Arista Networks by 0.5% during the fourth quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock worth $2,030,000 after acquiring an additional 43 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. KeyCorp raised their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Wells Fargo & Company lifted their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. upped their target price on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity

In related news, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 332,514 shares of company stock worth $95,369,397. 18.99% of the stock is owned by corporate insiders.

Arista Networks Trading Down 0.5 %

Shares of Arista Networks stock opened at $255.24 on Thursday. The stock has a market capitalization of $80.05 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 2.25 and a beta of 1.09. The firm’s 50-day moving average price is $279.08 and its two-hundred day moving average price is $248.62. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the company earned $1.25 EPS. Arista Networks’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities research analysts predict that Arista Networks, Inc. will post 6.7 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.