Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,316 shares of the technology company’s stock after purchasing an additional 3,237 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Arista Networks were worth $477,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ANET. Arkadios Wealth Advisors grew its holdings in Arista Networks by 63.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,303 shares of the technology company’s stock worth $884,000 after acquiring an additional 891 shares in the last quarter. PFG Investments LLC acquired a new position in Arista Networks during the 3rd quarter worth $314,000. J.W. Cole Advisors Inc. grew its holdings in Arista Networks by 77.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,057 shares of the technology company’s stock worth $1,941,000 after acquiring an additional 2,206 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Arista Networks by 4.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 34,461 shares of the technology company’s stock worth $13,227,000 after acquiring an additional 1,610 shares in the last quarter. Finally, Old Port Advisors grew its holdings in Arista Networks by 23.5% during the 3rd quarter. Old Port Advisors now owns 1,265 shares of the technology company’s stock worth $486,000 after acquiring an additional 241 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 288 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,224 shares of company stock worth $30,242,856 in the last ninety days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group raised their price objective 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. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Barclays raised their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Stock Up 0.2 %

Shares of NYSE:ANET opened at $92.85 on Wednesday. The company has a market cap of $117.10 billion, a PE ratio of 41.83, a P/E/G ratio of 3.10 and a beta of 1.09. The company’s 50-day moving average price is $112.78 and its 200 day moving average price is $102.13. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week 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 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 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, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS 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.