Cohen Capital Management Inc. Takes $226,000 Position in Arista Networks, Inc. (NYSE:ANET)

Cohen Capital Management Inc. purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, HoldingsChannel reports. The fund purchased 2,048 shares of the technology company’s stock, valued at approximately $226,000.

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

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock valued at $30,225,623 over the last three months. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ANET. Barclays raised their target price on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, UBS Group upped 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Trading Down 4.9 %

NYSE:ANET opened at $98.31 on Friday. The firm’s 50 day moving average is $113.66 and its 200 day moving average is $101.85. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock has a market capitalization of $123.97 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 3.27 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, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Research analysts predict that Arista Networks, Inc. will post 2.19 earnings per share for the current year.

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.