Oppenheimer & Co. Inc. Buys 51,350 Shares of Arista Networks, Inc. (NYSE:ANET)

Oppenheimer & Co. Inc. raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 466.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,356 shares of the technology company’s stock after purchasing an additional 51,350 shares during the period. Oppenheimer & Co. Inc.’s holdings in Arista Networks were worth $6,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ANET. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks in the fourth quarter worth $242,000. GHE LLC grew its stake in shares of Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after buying an additional 21,597 shares in the last quarter. Colonial River Investments LLC increased its holdings in shares of Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after buying an additional 7,466 shares during the last quarter. Silver Oak Securities Incorporated raised its position in shares of Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares in the last quarter. Finally, Proactive Wealth Strategies LLC lifted its holdings in shares of Arista Networks by 387.6% in the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after acquiring an additional 4,865 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Barclays raised their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company increased their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $113.79.

Insider Buying and Selling at Arista Networks

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 stock was 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 $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 416,008 shares of company stock valued at $44,854,958 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $91.50 on Friday. The firm has a market capitalization of $115.40 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a 50-day moving average of $112.19 and a 200 day moving average of $102.02.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 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.