Modera Wealth Management LLC Purchases 5,579 Shares of Arista Networks, Inc. (NYSE:ANET)

Modera Wealth Management LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 310.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,375 shares of the technology company’s stock after buying an additional 5,579 shares during the quarter. Modera Wealth Management LLC’s holdings in Arista Networks were worth $815,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ANET. Swedbank AB increased its stake in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares during the last quarter. WCM Investment Management LLC raised its holdings in Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after buying an additional 4,512,166 shares during the period. DSM Capital Partners LLC lifted its position in Arista Networks by 259.7% in the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after buying an additional 3,746,407 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after buying an additional 3,496,497 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred 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 $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on 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 directly owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,441 shares of company stock worth $45,713,162. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $85.74 on Tuesday. The stock has a market cap of $108.13 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 3.10 and a beta of 1.09. The firm’s 50-day moving average is $111.25 and its two-hundred day moving average is $102.27. 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, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for 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%. On average, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

ANET has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group increased their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group boosted their target price on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Citigroup boosted 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.79.

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.