Arista Networks, Inc. (NYSE:ANET) Position Increased by Parcion Private Wealth LLC

Parcion Private Wealth LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,144 shares of the technology company’s stock after acquiring an additional 3,858 shares during the period. Parcion Private Wealth LLC’s holdings in Arista Networks were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Zions Bancorporation N.A. raised its holdings in shares of Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC raised its holdings in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares in the last quarter. Altman Advisors Inc. increased its position in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares during the last quarter. HM Payson & Co. increased its position in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC increased its position in Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after buying an additional 30 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ANET. The Goldman Sachs Group increased their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup increased their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday. Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 259,944 shares of company stock valued at $30,214,186. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Shares of ANET opened at $103.82 on Thursday. The company has a market capitalization 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, Inc. has a one year low of $60.08 and a one year high of $133.57. The business’s 50 day simple moving average is $114.08 and its 200-day simple moving average is $101.54.

Arista Networks (NYSE:ANET) last announced its 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. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 1.97 EPS 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.