Murphy & Mullick Capital Management Corp Buys Shares of 832 Arista Networks, Inc. (NYSE:ANET)

Murphy & Mullick Capital Management Corp acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 832 shares of the technology company’s stock, valued at approximately $92,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Arista Networks in the 3rd quarter valued at about $1,417,000. Fisher Asset Management LLC boosted its stake in Arista Networks by 32.1% in the third quarter. Fisher Asset Management LLC now owns 6,717 shares of the technology company’s stock valued at $2,578,000 after acquiring an additional 1,633 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in Arista Networks by 5.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,388 shares of the technology company’s stock worth $533,000 after purchasing an additional 77 shares during the last quarter. Qsemble Capital Management LP acquired a new position in shares of Arista Networks during the third quarter worth $329,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Arista Networks by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of several recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Down 6.0 %

Arista Networks stock opened at $81.70 on Thursday. The firm has a market cap of $103.04 billion, a PE ratio of 36.80, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The stock’s 50 day simple moving average is $100.78 and its two-hundred day simple moving average is $101.84.

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