Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Private Wealth Partners LLC

Private Wealth Partners LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 317.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,992 shares of the technology company’s stock after purchasing an additional 5,319 shares during the quarter. Private Wealth Partners LLC’s holdings in Arista Networks were worth $773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Caitlin John LLC increased its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Cranbrook Wealth Management LLC grew its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. New Millennium Group LLC raised its stake in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its position in shares of Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after buying an additional 253 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays upped their target price on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group boosted their price target on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks 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 transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 259,944 shares of company stock valued at $30,214,186. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $103.82 on Thursday. The firm’s 50-day simple moving average is $114.08 and its 200-day simple moving average is $101.54. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The firm has a market cap of $130.79 billion, a P/E ratio of 49.91, a PEG ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 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 analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal 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.