Cobblestone Capital Advisors LLC NY Has $251,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 306.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,268 shares of the technology company’s stock after purchasing an additional 1,710 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Arista Networks were worth $251,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ANET. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks during the 3rd quarter worth about $44,000. HM Payson & Co. lifted its stake in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares during the period. True Wealth Design LLC lifted its stake in shares of Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the period. Finally, Transcendent Capital Group LLC lifted its position in shares of Arista Networks by 75.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In related news, insider John F. Mccool sold 17,433 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the completion of the sale, the insider now directly owns 17,433 shares of the company’s stock, valued at approximately $1,623,709.62. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 433,441 shares of company stock worth $46,538,462. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 1.7 %

NYSE ANET opened at $93.10 on Friday. The firm has a market capitalization of $117.41 billion, a P/E ratio of 41.94, a PEG ratio of 3.10 and a beta of 1.09. The business has a fifty day simple moving average of $111.80 and a 200 day simple moving average of $102.19. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate 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 predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of analyst reports. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group lifted their price objective on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.