Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Northcape Wealth Management LLC

Northcape Wealth Management LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 298.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,244 shares of the technology company’s stock after acquiring an additional 34,633 shares during the quarter. Arista Networks accounts for about 1.7% of Northcape Wealth Management LLC’s holdings, making the stock its 14th biggest position. Northcape Wealth Management LLC’s holdings in Arista Networks were worth $5,111,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Caitlin John LLC lifted its stake in shares of 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 purchasing an additional 152 shares during the period. Cranbrook Wealth Management LLC increased its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the period. New Millennium Group LLC boosted its stake in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Up 3.9 %

ANET stock opened at $111.05 on Wednesday. The stock’s fifty day simple moving average is $113.95 and its 200-day simple moving average is $101.32. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The stock has a market capitalization of $139.89 billion, a price-to-earnings ratio of 53.39, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. As a group, analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of several research reports. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group lifted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. 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 MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. 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 the SEC website. Also, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders sold a total of 337,320 shares of company stock worth $37,946,706 in the last 90 days. 3.54% of the stock is owned by corporate insiders.

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.