First Foundation Advisors Buys 31,197 Shares of Arista Networks, Inc. (NYSE:ANET)

First Foundation Advisors raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 355.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 39,964 shares of the technology company’s stock after acquiring an additional 31,197 shares during the period. First Foundation Advisors’ holdings in Arista Networks were worth $4,417,000 as of its most recent filing with the Securities and Exchange Commission.

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

Arista Networks Stock Down 4.4 %

Shares of ANET stock opened at $72.68 on Thursday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The stock has a market capitalization of $91.66 billion, a P/E ratio of 32.74, a P/E/G ratio of 3.10 and a beta of 1.30. The stock has a 50-day simple moving average of $90.32 and a 200 day simple moving average of $100.45.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $108.50.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock valued at $39,364,943 over the last three months. Company insiders own 3.54% of the company’s stock.

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.