921 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Mission Wealth Management LP

Mission Wealth Management LP acquired a new stake in Arista Networks, Inc. (NYSE:ANETFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 921 shares of the technology company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently made changes to their positions in the business. Sandy Spring Bank boosted its holdings in shares of Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares during the period. Fulton Breakefield Broenniman LLC increased its stake in shares of Arista Networks by 1.8% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after purchasing an additional 40 shares during the period. Venturi Wealth Management LLC lifted its holdings in Arista Networks by 2.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after purchasing an additional 41 shares during the last quarter. PDS Planning Inc boosted its stake in Arista Networks by 3.1% in the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock valued at $324,000 after purchasing an additional 41 shares during the period. Finally, Purus Wealth Management LLC grew its holdings in Arista Networks by 0.5% in the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after buying an additional 43 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ANET shares. KeyCorp lifted their target price on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Jefferies Financial Group upgraded Arista Networks from a “hold” rating to a “buy” rating and boosted their price target for the company from $240.00 to $320.00 in a research note on Friday. Finally, Barclays lifted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $285.53.

Check Out Our Latest Stock Report on Arista Networks

Arista Networks Price Performance

ANET stock opened at $274.40 on Friday. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The stock has a market cap of $85.79 billion, a price-to-earnings ratio of 41.77, a P/E/G ratio of 2.24 and a beta of 1.13. The company has a 50 day simple moving average of $279.07 and a 200 day simple moving average of $249.25.

Arista Networks (NYSE:ANETGet Free Report) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company earned $1.25 EPS. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John F. Mccool sold 416 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $105,888.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,974 shares of company stock valued at $96,252,685. 18.99% of the stock is currently owned by corporate insiders.

Arista Networks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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