Murphy & Mullick Capital Management Corp Invests $92,000 in Arista Networks, Inc. (NYSE:ANET)

Murphy & Mullick Capital Management Corp purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 832 shares of the technology company’s stock, valued at approximately $92,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after purchasing an additional 72,311,318 shares in the last quarter. Swedbank AB lifted its position in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Arista Networks by 320.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after buying an additional 4,919,882 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after acquiring an additional 4,579,622 shares during the last quarter. Finally, WCM Investment Management LLC raised its holdings in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 491,001 shares of company stock worth $49,112,111. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $81.70 on Thursday. The company’s 50-day simple moving average is $100.78 and its 200-day simple moving average is $101.84. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock has a market capitalization of $103.04 billion, a PE ratio of 36.80, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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 restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.00.

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.