Arista Networks, Inc. (NYSE:ANET) Shares Bought by Advisor OS LLC

Advisor OS LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 311.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,427 shares of the technology company’s stock after buying an additional 3,352 shares during the quarter. Advisor OS LLC’s holdings in Arista Networks were worth $489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cutter & CO Brokerage Inc. increased its position in shares of Arista Networks by 300.0% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 4,316 shares of the technology company’s stock worth $477,000 after purchasing an additional 3,237 shares during the last quarter. GraniteShares Advisors LLC purchased a new position in Arista Networks during the fourth quarter worth about $1,300,000. Denali Advisors LLC increased its position in shares of Arista Networks by 298.3% during the fourth quarter. Denali Advisors LLC now owns 58,556 shares of the technology company’s stock valued at $6,472,000 after acquiring an additional 43,854 shares during the last quarter. Richard Bernstein Advisors LLC lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Richard Bernstein Advisors LLC now owns 34,228 shares of the technology company’s stock worth $3,783,000 after acquiring an additional 25,671 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in shares of Arista Networks by 661.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 16,170 shares of the technology company’s stock worth $1,787,000 after purchasing an additional 14,046 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of NYSE ANET opened at $96.43 on Thursday. The business has a 50-day moving average of $112.54 and a two-hundred day moving average of $102.09. The company has a market capitalization of $121.61 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Barclays lifted their target price on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. UBS Group increased their price target on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the transaction, the insider now directly owns 17,433 shares in the company, valued at approximately $1,623,709.62. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 416,008 shares of company stock valued at $44,854,958 in the last ninety days. Insiders own 3.54% of the company’s stock.

About Arista Networks

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.