Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,720 shares of the technology company’s stock after purchasing an additional 2,040 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Arista Networks were worth $301,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ANET. Zions Bancorporation N.A. boosted its position in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares in the last quarter. Intellectus Partners LLC raised its position in Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares during the last quarter. First Affirmative Financial Network lifted its holdings in shares of Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares in the last quarter. Altman Advisors Inc. grew its position in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, HM Payson & Co. increased its stake in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ANET. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Barclays decreased their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Rosenblatt Securities boosted their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Insider Buying and Selling at Arista Networks

In other news, insider John F. Mccool sold 6,340 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now owns 288 shares of the company’s stock, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock valued at $28,538,497 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 0.3 %

Shares of Arista Networks stock opened at $115.11 on Friday. The stock has a market capitalization of $145.01 billion, a P/E ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. The business’s fifty day moving average price is $112.58 and its 200 day moving average price is $99.48. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, sell-side analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current year.

Arista Networks Company 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.