Williamson Legacy Group LLC Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Williamson Legacy Group LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,220 shares of the technology company’s stock, valued at approximately $909,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. US Bancorp DE grew its holdings in Arista Networks by 282.5% during the 4th quarter. US Bancorp DE now owns 169,090 shares of the technology company’s stock worth $18,690,000 after acquiring an additional 124,886 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Arista Networks by 307.8% in the 4th quarter. Fisher Asset Management LLC now owns 27,392 shares of the technology company’s stock valued at $3,028,000 after buying an additional 20,675 shares in the last quarter. WR Wealth Planners LLC boosted its holdings in shares of Arista Networks by 203.7% in the 4th quarter. WR Wealth Planners LLC now owns 4,986 shares of the technology company’s stock valued at $551,000 after buying an additional 3,344 shares in the last quarter. Bank OZK boosted its holdings in shares of Arista Networks by 303.7% in the 4th quarter. Bank OZK now owns 35,081 shares of the technology company’s stock valued at $3,878,000 after buying an additional 26,391 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY boosted its holdings in shares of Arista Networks by 306.5% in the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 2,268 shares of the technology company’s stock valued at $251,000 after buying an additional 1,710 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total transaction of $1,683,504.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,441 shares of company stock valued at $46,538,462. 3.54% of the stock is owned by insiders.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. 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 report on Friday, January 17th. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Wells Fargo & Company raised their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Barclays increased their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Trading Up 1.7 %

ANET opened at $93.10 on Friday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm has a market capitalization of $117.41 billion, a PE ratio of 41.94, a P/E/G ratio of 3.10 and a beta of 1.09. The firm has a 50 day moving average of $111.80 and a two-hundred day moving average of $102.08.

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

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.