Meadow Creek Wealth Advisors LLC Purchases New Position in Arista Networks, Inc. (NYSE:ANET)

Meadow Creek Wealth Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,876 shares of the technology company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the period. Jennison Associates LLC increased its holdings in Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after purchasing an additional 3,496,497 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Arista Networks by 473.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock valued at $146,593,000 after buying an additional 1,094,910 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Arista Networks by 335.0% in the fourth quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock valued at $79,278,000 after acquiring an additional 552,350 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ANET. Wells Fargo & Company upped their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays reduced their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Rosenblatt Securities raised their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, UBS Group boosted their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Trading Up 2.8 %

Shares of NYSE ANET opened at $115.43 on Thursday. The stock has a market capitalization of $145.41 billion, a PE ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09. The stock has a fifty day simple moving average of $112.28 and a 200-day simple moving average of $99.36. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, equities analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now directly owns 288 shares in the company, valued at approximately $28,391.76. This represents a 95.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,832 shares of company stock valued at $28,538,497. Insiders own 3.54% of the company’s stock.

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.