2,984 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,984 shares of the technology company’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Anchor Investment Management LLC grew its stake in 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 buying an additional 35 shares during the last quarter. Caitlin John LLC lifted its holdings in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the period. New Millennium Group LLC boosted its holdings in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its stake in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 483,001 shares of company stock worth $48,220,031. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Up 2.3 %

Shares of NYSE:ANET opened at $80.31 on Thursday. The stock has a market cap of $101.28 billion, a PE ratio of 36.18, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The business has a 50 day moving average of $96.46 and a 200-day moving average of $101.60.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ANET shares. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.