Avitas Wealth Management LLC Acquires 24,664 Shares of Arista Networks, Inc. (NYSE:ANET)

Avitas Wealth Management LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 297.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,961 shares of the technology company’s stock after acquiring an additional 24,664 shares during the period. Avitas Wealth Management LLC’s holdings in Arista Networks were worth $3,643,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ANET. Tanager Wealth Management LLP purchased a new position in shares of Arista Networks during the 4th quarter valued at about $349,000. Greenwood Capital Associates LLC lifted its holdings in Arista Networks by 300.0% during the fourth quarter. Greenwood Capital Associates LLC now owns 2,720 shares of the technology company’s stock valued at $301,000 after purchasing an additional 2,040 shares in the last quarter. James J. Burns & Company LLC boosted its position in shares of Arista Networks by 300.0% in the fourth quarter. James J. Burns & Company LLC now owns 5,520 shares of the technology company’s stock worth $610,000 after purchasing an additional 4,140 shares during the period. Mather Group LLC. increased its stake in shares of Arista Networks by 302.4% in the fourth quarter. Mather Group LLC. now owns 13,328 shares of the technology company’s stock worth $1,473,000 after purchasing an additional 10,016 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in shares of Arista Networks by 220.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 320 shares of the technology company’s stock valued at $35,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now owns 288 shares in the company, valued at $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock valued at $28,538,497 over the last three months. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Down 0.3 %

ANET opened at $115.11 on Friday. The stock has a 50-day moving average of $112.58 and a 200 day moving average of $99.48. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The firm has a market cap of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, research analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Rosenblatt Securities upped their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

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.