Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Annis Gardner Whiting Capital Advisors LLC

Annis Gardner Whiting Capital Advisors LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 297.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,291 shares of the technology company’s stock after acquiring an additional 966 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Arista Networks were worth $143,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors Inc. boosted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,516 shares of the technology company’s stock worth $168,000 after acquiring an additional 1,137 shares in the last quarter. Pitcairn Co. raised its holdings in Arista Networks by 258.7% during the fourth quarter. Pitcairn Co. now owns 3,465 shares of the technology company’s stock worth $383,000 after purchasing an additional 2,499 shares during the last quarter. Grant Private Wealth Management Inc acquired a new position in Arista Networks during the fourth quarter worth $330,000. Spahn Wealth & Retirement LLC purchased a new stake in Arista Networks during the fourth quarter worth $5,361,000. Finally, Motley Fool Asset Management LLC grew its holdings in Arista Networks by 357.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 65,087 shares of the technology company’s stock valued at $7,194,000 after purchasing an additional 50,855 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Down 9.8 %

Shares of NYSE:ANET opened at $64.28 on Friday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The stock’s 50-day moving average price is $94.01 and its two-hundred day moving average price is $101.21. The firm has a market cap of $81.07 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.10 and a beta of 1.30.

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, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ANET has been the subject of several research reports. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI lifted their price objective on 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 reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $48,840,431 in the last ninety days. Company insiders own 3.54% of the company’s stock.

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.