Lyell Wealth Management LP Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Lyell Wealth Management LP purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,036 shares of the technology company’s stock, valued at approximately $225,000.

Other institutional investors have also added to or reduced their stakes in the company. OLD National Bancorp IN raised its stake in shares of Arista Networks by 6.0% in the third quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company’s stock worth $417,000 after purchasing an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Arista Networks by 2.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company’s stock worth $1,362,000 after purchasing an additional 68 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Arista Networks by 16.6% in the third quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company’s stock worth $207,000 after purchasing an additional 77 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after purchasing an additional 31 shares during the last quarter. Finally, Vicus Capital purchased a new position in shares of Arista Networks in the third quarter worth about $211,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ANET. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Citigroup lifted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Trading Down 6.5 %

Shares of ANET opened at $103.82 on Thursday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock’s 50 day moving average is $114.08 and its two-hundred day moving average is $101.54. 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 data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale 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 that occurred on 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 sale, 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. Insiders have sold 259,944 shares of company stock valued at $30,214,186 over the last ninety days. 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.