Arista Networks, Inc. (NYSE:ANET) Stake Lifted by MV Capital Management Inc.

MV Capital Management Inc. grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,396 shares of the technology company’s stock after purchasing an additional 1,047 shares during the period. MV Capital Management Inc.’s holdings in Arista Networks were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ANET. Anchor Investment Management LLC increased its holdings in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Freedom Investment Management Inc. raised its holdings in shares of Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after acquiring an additional 36 shares in the last quarter. LRI Investments LLC boosted its position in Arista Networks by 3.1% during the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in Arista Networks by 3.8% in the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock valued at $453,000 after purchasing an additional 43 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Arista Networks by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock worth $1,980,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 1.3 %

ANET stock opened at $77.91 on Friday. The company has a market cap of $98.25 billion, a P/E ratio of 35.09, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The business has a fifty day moving average of $99.16 and a 200-day moving average of $101.66.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ANET shares. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was 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 in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 in the last 90 days. 3.54% of the stock is owned by insiders.

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.