GLOBALT Investments LLC GA Has $5.08 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

GLOBALT Investments LLC GA grew its position in Arista Networks, Inc. (NYSE:ANET) by 301.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,001 shares of the technology company’s stock after buying an additional 34,538 shares during the period. GLOBALT Investments LLC GA’s holdings in Arista Networks were worth $5,084,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Robinson Smith Wealth Advisors LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at $218,000. Gallacher Capital Management LLC grew its holdings in shares of Arista Networks by 297.8% in the 4th quarter. Gallacher Capital Management LLC now owns 5,211 shares of the technology company’s stock valued at $576,000 after buying an additional 3,901 shares during the period. Harbour Investments Inc. grew its holdings in shares of Arista Networks by 432.3% in the 4th quarter. Harbour Investments Inc. now owns 1,485 shares of the technology company’s stock valued at $164,000 after buying an additional 1,206 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Arista Networks by 251.8% in the 4th quarter. Corient Private Wealth LLC now owns 307,011 shares of the technology company’s stock valued at $33,602,000 after buying an additional 219,745 shares during the period. Finally, Centurion Wealth Management LLC grew its holdings in shares of Arista Networks by 296.4% in the 4th quarter. Centurion Wealth Management LLC now owns 2,874 shares of the technology company’s stock valued at $318,000 after buying an additional 2,149 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ANET shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Up 4.3 %

ANET stock opened at $83.58 on Monday. The firm has a market capitalization of $105.41 billion, a PE ratio of 37.65, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The business’s 50 day simple moving average is $105.75 and its 200 day simple moving average is $101.94.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is owned by 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.