Avalon Capital Management Acquires 7,879 Shares of Arista Networks, Inc. (NYSE:ANET)

Avalon Capital Management lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 376.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,972 shares of the technology company’s stock after buying an additional 7,879 shares during the period. Avalon Capital Management’s holdings in Arista Networks were worth $1,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANET. Stock Yards Bank & Trust Co. purchased a new stake in Arista Networks during the 4th quarter valued at about $242,000. GHE LLC raised its stake in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC boosted its position in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in shares of Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares during the last quarter. Finally, Proactive Wealth Strategies LLC lifted its position in Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after purchasing an additional 4,865 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANET. Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Barclays lifted their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Down 5.8 %

Shares of ANET stock opened at $92.61 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The stock has a market capitalization of $116.79 billion, a P/E ratio of 41.72, a P/E/G ratio of 3.10 and a beta of 1.09. The stock has a 50-day simple moving average of $113.18 and a 200 day simple moving average of $102.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 288 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 260,056 shares of company stock valued at $30,225,623. 3.54% of the stock is owned by corporate 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.