Greenwood Capital Associates LLC Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

Greenwood Capital Associates LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,720 shares of the technology company’s stock after purchasing an additional 2,040 shares during the period. Greenwood Capital Associates LLC’s holdings in Arista Networks were worth $301,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zions Bancorporation N.A. boosted its holdings in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC boosted its stake in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the last quarter. First Affirmative Financial Network grew its position in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after buying an additional 28 shares in the last quarter. Altman Advisors Inc. raised its holdings in Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares in the last quarter. Finally, HM Payson & Co. raised its holdings in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of ANET stock opened at $115.11 on Friday. The business has a 50 day simple moving average of $112.58 and a 200 day simple moving average of $99.48. The firm has a market capitalization of $145.01 billion, a price-to-earnings ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company 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%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now owns 288 shares of the company’s stock, valued at $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,832 shares of company stock valued at $28,538,497. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ANET shares. Rosenblatt Securities raised their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group upped their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

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.