Net Worth Advisory Group Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Net Worth Advisory Group boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 286.4% in the fourth quarter, HoldingsChannel reports. The fund owned 7,941 shares of the technology company’s stock after purchasing an additional 5,886 shares during the quarter. Net Worth Advisory Group’s holdings in Arista Networks were worth $878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in 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 purchasing an additional 411,109 shares in the last quarter. Swedbank AB increased its stake in Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after purchasing an additional 4,919,882 shares in the last quarter. Amundi increased its stake in Arista Networks by 196.3% during the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after purchasing an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Arista Networks by 294.1% in the fourth 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 period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Trading Down 7.0 %

Shares of NYSE:ANET opened at $77.53 on Tuesday. The company has a market capitalization of $97.77 billion, a PE ratio of 34.92, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The firm has a 50 day simple moving average of $108.24 and a 200-day simple moving average of $102.10.

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. The business had revenue of $1.93 billion during 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 predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company 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.