Arista Networks, Inc. (NYSE:ANET) Stock Position Increased by FineMark National Bank & Trust

FineMark National Bank & Trust boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,120 shares of the technology company’s stock after buying an additional 9,090 shares during the quarter. FineMark National Bank & Trust’s holdings in Arista Networks were worth $1,340,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Caitlin John LLC grew its stake in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC grew its position in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $86.87 on Wednesday. The stock’s 50-day moving average is $101.47 and its 200-day moving average is $101.98. The company has a market cap of $109.55 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last released its 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 for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Citigroup lifted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is owned by company insiders.

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.