Interchange Capital Partners LLC Raises Position in Arista Networks, Inc. (NYSE:ANET)

Interchange Capital Partners LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 289.7% during the fourth quarter, Holdings Channel reports. The fund owned 9,301 shares of the technology company’s stock after buying an additional 6,914 shares during the period. Interchange Capital Partners LLC’s holdings in Arista Networks were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the 4th quarter worth $242,000. GHE LLC grew its holdings in shares of Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC increased its stake in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management bought a new position in shares of Arista Networks during the fourth quarter valued at approximately $630,000. Finally, Berkshire Capital Holdings Inc. raised its holdings in Arista Networks by 257.6% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after buying an additional 55,430 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Barclays reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. One investment 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Up 0.3 %

Shares of Arista Networks stock opened at $83.26 on Monday. The company’s 50-day simple moving average is $102.53 and its 200-day simple moving average is $101.89. The firm has a market cap of $104.99 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company’s stock.

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.