Bristlecone Advisors LLC Buys 14,133 Shares of Arista Networks, Inc. (NYSE:ANET)

Bristlecone Advisors LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 388.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,774 shares of the technology company’s stock after buying an additional 14,133 shares during the period. Bristlecone Advisors LLC’s holdings in Arista Networks were worth $1,965,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NORTHSTAR ASSET MANAGEMENT Co LLC lifted its position in shares of Arista Networks by 300.0% during the fourth quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 59,840 shares of the technology company’s stock worth $6,614,000 after purchasing an additional 44,880 shares during the last quarter. Regents Gate Capital LLP bought a new stake in Arista Networks during the 4th quarter valued at about $2,669,000. Soltis Investment Advisors LLC bought a new position in Arista Networks in the 4th quarter worth about $5,896,000. Silicon Valley Capital Partners increased its position in shares of Arista Networks by 300.0% during the fourth quarter. Silicon Valley Capital Partners now owns 7,180 shares of the technology company’s stock worth $794,000 after acquiring an additional 5,385 shares during the period. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Arista Networks in the fourth quarter valued at approximately $204,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

ANET stock opened at $118.52 on Monday. The firm’s fifty day moving average is $113.21 and its 200 day moving average is $99.91. The firm has a market cap of $149.31 billion, a PE ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly 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 net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 over the last ninety days. Insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities upped their target price on 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 lifted their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, UBS Group lifted 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target 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.