Assetmark Inc. Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Assetmark Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 317.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,117 shares of the technology company’s stock after buying an additional 187,176 shares during the period. Assetmark Inc.’s holdings in Arista Networks were worth $27,203,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitlin John LLC raised its holdings in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the period. Cranbrook Wealth Management LLC increased its stake in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont increased its stake in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC increased its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total transaction of $712,240.00. Following the sale, the director now directly owns 147,784 shares of the company’s stock, valued at $13,157,209.52. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,289 shares of company stock valued at $51,018,617. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 2.7 %

NYSE ANET opened at $87.83 on Thursday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The firm has a market capitalization of $110.76 billion, a PE ratio of 39.56, a P/E/G ratio of 3.10 and a beta of 1.09. The stock’s 50 day moving average is $110.13 and its 200 day moving average is $102.14.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Wells Fargo & Company lifted their price target on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group boosted their target price on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.