L. Roy Papp & Associates LLP Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

L. Roy Papp & Associates LLP boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, HoldingsChannel reports. The firm owned 3,200 shares of the technology company’s stock after buying an additional 2,400 shares during the period. L. Roy Papp & Associates LLP’s holdings in Arista Networks were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ANET. Stock Yards Bank & Trust Co. purchased a new position in shares of Arista Networks during the fourth quarter valued at $242,000. Silver Oak Securities Incorporated lifted its stake in Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares during the period. CENTRAL TRUST Co grew its holdings in Arista Networks by 475.5% during the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock worth $462,000 after acquiring an additional 3,457 shares in the last quarter. Triasima Portfolio Management inc. increased its position in Arista Networks by 371.3% during the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock valued at $8,675,000 after purchasing an additional 61,833 shares during the period. Finally, GW Henssler & Associates Ltd. raised its holdings in shares of Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. 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. Rosenblatt Securities upped their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. 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 assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $105.83.

Insider Buying and Selling at Arista Networks

In other news, insider John F. Mccool sold 6,340 shares of the stock in a transaction dated Thursday, November 21st. The stock was 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 of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Down 2.8 %

Shares of Arista Networks stock opened at $116.82 on Wednesday. The company has a 50 day moving average price of $113.57 and a 200 day moving average price of $100.33. The firm has a market capitalization of $147.16 billion, a P/E ratio of 56.16, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

About Arista Networks

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.