SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co Takes $717,000 Position in Arista Networks, Inc. (NYSE:ANET)

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 6,484 shares of the technology company’s stock, valued at approximately $717,000. Arista Networks accounts for 0.7% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co’s holdings, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks during the 4th quarter worth approximately $242,000. GHE LLC raised its position in Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC grew its holdings in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares during the last quarter. Unified Investment Management purchased a new position in shares of Arista Networks in the 4th quarter worth $630,000. Finally, Silver Oak Securities Incorporated boosted its position in Arista Networks by 395.8% in 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 during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ANET shares. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Performance

Arista Networks stock opened at $79.07 on Wednesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The firm has a market capitalization of $99.72 billion, a P/E ratio of 35.62, a P/E/G ratio of 3.10 and a beta of 1.08. The company has a 50-day simple moving average of $107.62 and a 200-day simple moving average of $102.03.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm 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%. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.