Intellectus Partners LLC Grows Position in Arista Networks, Inc. (NYSE:ANET)

Intellectus Partners LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 279.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,308 shares of the technology company’s stock after buying an additional 5,381 shares during the quarter. Intellectus Partners LLC’s holdings in Arista Networks were worth $808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks in the third quarter valued at approximately $44,000. True Wealth Design LLC boosted its holdings in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the period. Transcendent Capital Group LLC boosted its holdings in shares of Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after acquiring an additional 75 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 63 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. 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 the firm’s stock in a transaction on Monday, December 9th. The shares were 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. Over the last quarter, insiders sold 411,289 shares of company stock worth $42,355,417. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. The Goldman Sachs Group increased their price objective on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Performance

NYSE:ANET opened at $83.31 on Friday. The stock has a fifty day moving average price of $108.92 and a two-hundred day moving average price of $102.08. The stock has a market capitalization of $105.07 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.