Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Wealth Alliance

Wealth Alliance grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,198 shares of the technology company’s stock after purchasing an additional 295 shares during the period. Wealth Alliance’s holdings in Arista Networks were worth $2,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ANET. Sandy Spring Bank lifted its stake in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Arista Networks by 2.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after purchasing an additional 41 shares during the period. Purus Wealth Management LLC increased its holdings in Arista Networks by 0.5% during the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock worth $2,030,000 after purchasing an additional 43 shares during the period. Congress Park Capital LLC increased its holdings in Arista Networks by 0.6% during the 4th quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock worth $1,823,000 after purchasing an additional 43 shares during the period. Finally, Moody Lynn & Lieberson LLC increased its holdings in Arista Networks by 0.7% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,394 shares of the technology company’s stock worth $1,506,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock traded up $1.39 during mid-day trading on Tuesday, reaching $264.59. 1,383,974 shares of the company were exchanged, compared to its average volume of 2,444,349. The firm’s 50-day simple moving average is $281.58 and its two-hundred day simple moving average is $243.39. The firm has a market cap of $82.72 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ANET shares. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. The Goldman Sachs Group increased their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity

In other news, Director Yvonne Wassenaar sold 186 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the sale, the director now directly owns 2,678 shares of the company’s stock, valued at approximately $700,055.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jayshree Ullal sold 18,621 shares of Arista Networks stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the completion of the transaction, the chief executive officer now directly owns 82,766 shares of the company’s stock, valued at $21,320,521.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the transaction, the director now directly owns 2,678 shares of the company’s stock, valued at approximately $700,055.98. The disclosure for this sale can be found here. Insiders sold 361,036 shares of company stock valued at $102,813,921 in the last three months. 18.99% of the stock is currently owned by company insiders.

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.