Mitchell Capital Management Co. Buys 78,108 Shares of Arista Networks, Inc. (NYSE:ANET)

Mitchell Capital Management Co. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 293.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,724 shares of the technology company’s stock after purchasing an additional 78,108 shares during the period. Arista Networks makes up 2.0% of Mitchell Capital Management Co.’s investment portfolio, making the stock its 11th largest holding. Mitchell Capital Management Co.’s holdings in Arista Networks were worth $11,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $44,000. HM Payson & Co. boosted its stake in Arista Networks by 28.2% during 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 in the last quarter. True Wealth Design LLC raised its holdings in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC increased its holdings in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares during the last quarter. Finally, Transcendent Capital Group LLC increased its holdings in Arista Networks by 75.0% during the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after buying an additional 75 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % 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, insider John F. Mccool sold 17,433 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total transaction of $1,683,504.81. The disclosure for this sale can be found here. Insiders have sold a total of 433,441 shares of company stock valued at $46,538,462 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on ANET shares. Wells Fargo & Company upped their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Citigroup upped their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group upped their price target on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Up 1.7 %

Arista Networks stock opened at $93.10 on Friday. The company has a market cap of $117.41 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 3.10 and a beta of 1.09. The firm’s fifty day moving average is $111.80 and its 200 day moving average is $102.19. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly 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 company 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%. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal 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.