Horizon Investments LLC Purchases 38,337 Shares of Arista Networks, Inc. (NYSE:ANET)

Horizon Investments LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 544.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,376 shares of the technology company’s stock after purchasing an additional 38,337 shares during the quarter. Horizon Investments LLC’s holdings in Arista Networks were worth $5,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ANET. MidAtlantic Capital Management Inc. bought a new position in Arista Networks in the third quarter valued at approximately $44,000. True Wealth Design LLC boosted its position in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares during the period. Meeder Asset Management Inc. lifted its stake in Arista Networks by 52.5% in the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after buying an additional 63 shares during the period. Finally, Caitlin John LLC boosted its holdings in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Barclays reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Price Performance

Arista Networks stock opened at $85.06 on Tuesday. The firm has a 50-day moving average of $105.07 and a 200-day moving average of $101.92. The company has a market cap of $107.27 billion, a price-to-earnings ratio of 38.32, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is currently owned by insiders.

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.