Arista Networks, Inc. (NYSE:ANET) Shares Sold by WD Rutherford LLC

WD Rutherford LLC decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,027 shares of the technology company’s stock after selling 1,053 shares during the period. Arista Networks makes up about 2.4% of WD Rutherford LLC’s portfolio, making the stock its 13th biggest holding. WD Rutherford LLC’s holdings in Arista Networks were worth $4,010,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ANET. Larson Financial Group LLC acquired a new position in Arista Networks in the 3rd quarter worth $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks in the 3rd quarter worth $29,000. BluePath Capital Management LLC acquired a new position in Arista Networks in the 3rd quarter worth $33,000. NBC Securities Inc. acquired a new position in Arista Networks in the 3rd quarter worth $33,000. Finally, Atticus Wealth Management LLC increased its position in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Barclays boosted their target price on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. KeyCorp boosted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley boosted their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $4,929,639.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The disclosure for this sale can be found here. In the last three months, insiders sold 333,494 shares of company stock valued at $95,632,321. Company insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 0.1 %

Arista Networks stock opened at $264.57 on Friday. The firm has a 50-day moving average price of $279.09 and a two-hundred day moving average price of $246.85. The firm has a market capitalization of $82.97 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.26 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. Research analysts expect that Arista Networks, Inc. will post 6.7 earnings per share 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.