HighPoint Advisor Group LLC Purchases 33,866 Shares of Arista Networks, Inc. (NYSE:ANET)

HighPoint Advisor Group LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 292.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,440 shares of the technology company’s stock after acquiring an additional 33,866 shares during the period. HighPoint Advisor Group LLC’s holdings in Arista Networks were worth $5,309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. Alliancebernstein L.P. increased its position in Arista Networks by 218.5% in the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after buying an additional 14,454,822 shares in the last quarter. Norges Bank bought a new position in shares of Arista Networks in the fourth quarter worth about $1,397,833,000. State Street Corp grew its stake in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Arista Networks by 313.9% in the 4th quarter. Wellington Management Group LLP now owns 11,013,511 shares of the technology company’s stock worth $1,217,323,000 after acquiring an additional 8,352,816 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Down 1.3 %

ANET stock opened at $77.91 on Monday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The stock has a market capitalization of $98.25 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The firm’s fifty day simple moving average is $99.16 and its two-hundred day simple moving average is $101.91.

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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. Company insiders own 3.54% of the company’s stock.

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.