Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Prairie Wealth Advisors Inc.

Prairie Wealth Advisors Inc. boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 313.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,411 shares of the technology company’s stock after buying an additional 7,892 shares during the period. Prairie Wealth Advisors Inc.’s holdings in Arista Networks were worth $1,151,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ANET. Brookstone Capital Management raised its stake in Arista Networks by 21.5% during the third quarter. Brookstone Capital Management now owns 18,113 shares of the technology company’s stock worth $6,952,000 after purchasing an additional 3,204 shares during the period. CWM LLC increased its holdings in shares of Arista Networks by 12.5% during the 3rd quarter. CWM LLC now owns 17,931 shares of the technology company’s stock worth $6,882,000 after buying an additional 1,989 shares during the last quarter. Wedmont Private Capital lifted its holdings in Arista Networks by 6.0% in the third quarter. Wedmont Private Capital now owns 4,354 shares of the technology company’s stock valued at $1,709,000 after acquiring an additional 245 shares during the last quarter. Perpetual Ltd grew its position in Arista Networks by 25.4% in the third quarter. Perpetual Ltd now owns 5,703 shares of the technology company’s stock worth $2,189,000 after acquiring an additional 1,156 shares during the period. Finally, Sendero Wealth Management LLC increased its stake in Arista Networks by 2.7% during the third quarter. Sendero Wealth Management LLC now owns 27,241 shares of the technology company’s stock worth $10,456,000 after acquiring an additional 723 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ANET. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Company upped their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Rosenblatt Securities boosted their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. One equities 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.83.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Down 0.3 %

NYSE ANET opened at $115.11 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The firm has a 50 day moving average of $112.58 and a two-hundred day moving average of $99.48. The stock has a market capitalization of $145.01 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

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

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.