Prairie Wealth Advisors Inc. Grows Position in Arista Networks, Inc. (NYSE:ANET)

Prairie Wealth Advisors Inc. grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 313.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,411 shares of the technology company’s stock after purchasing an additional 7,892 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in Arista Networks were worth $1,151,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Silver Oak Securities Incorporated raised its position in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares in the last quarter. GW Henssler & Associates Ltd. lifted its position in shares of Arista Networks by 3.6% during the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after buying an additional 2,219 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in shares of Arista Networks by 69.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after buying an additional 3,711 shares during the last quarter. Walkner Condon Financial Advisors LLC bought a new position in shares of Arista Networks during the 3rd quarter worth approximately $2,318,000. Finally, Greenleaf Trust lifted its position in Arista Networks by 20.1% during the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after acquiring an additional 2,216 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now directly owns 288 shares in the company, valued at $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

ANET opened at $115.11 on Friday. The firm has a fifty day moving average price of $112.58 and a 200 day moving average price of $99.48. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The stock has a market cap of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Barclays cut their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Rosenblatt Securities lifted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Finally, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.83.

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.