Arista Networks, Inc. (NYSE:ANET) Holdings Raised by Proficio Capital Partners LLC

Proficio Capital Partners LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 81,065.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 515,401 shares of the technology company’s stock after purchasing an additional 514,766 shares during the period. Proficio Capital Partners LLC’s holdings in Arista Networks were worth $56,967,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Caitlin John LLC lifted its holdings in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC lifted its stake in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its stake in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC lifted its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on 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 sale, the chief executive officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.14, for a total value of $1,623,709.62. Following the sale, the insider now directly owns 17,433 shares in the company, valued at $1,623,709.62. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 416,008 shares of company stock valued at $44,854,958 in the last 90 days. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group increased their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Down 5.1 %

ANET opened at $91.50 on Friday. The firm has a market capitalization of $115.40 billion, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock’s 50 day moving average price is $112.19 and its two-hundred day moving average price is $102.02. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 29.91% and a net margin of 40.72%. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.