34,979 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by SVB Wealth LLC

SVB Wealth LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,979 shares of the technology company’s stock, valued at approximately $3,866,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ANET. Strategic Blueprint LLC purchased a new stake in shares of Arista Networks during the third quarter worth approximately $266,000. Financial Advocates Investment Management increased its stake in Arista Networks by 5.5% in the 3rd quarter. Financial Advocates Investment Management now owns 799 shares of the technology company’s stock valued at $307,000 after buying an additional 42 shares during the period. HM Payson & Co. raised its position in Arista Networks by 28.2% during the 3rd 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. Stephens Inc. AR lifted its stake in shares of Arista Networks by 4.7% in the 3rd quarter. Stephens Inc. AR now owns 2,751 shares of the technology company’s stock worth $1,056,000 after acquiring an additional 124 shares during the period. Finally, Principal Securities Inc. boosted its holdings in shares of Arista Networks by 14.4% in the third quarter. Principal Securities Inc. now owns 8,457 shares of the technology company’s stock valued at $3,246,000 after acquiring an additional 1,067 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Up 1.7 %

Shares of ANET opened at $93.10 on Friday. The company has a 50-day moving average of $111.80 and a two-hundred day moving average of $102.19. The stock has a market cap of $117.41 billion, a P/E ratio of 41.94, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 firm 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%. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In related news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $825,300.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 433,441 shares of company stock worth $46,538,462 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ANET has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company raised their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays raised their target price on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks 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.