Allworth Financial LP Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Allworth Financial LP lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 338.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,281 shares of the technology company’s stock after acquiring an additional 7,936 shares during the quarter. Allworth Financial LP’s holdings in Arista Networks were worth $1,136,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Principal Securities Inc. boosted its stake in shares of Arista Networks by 335.0% during the 4th quarter. Principal Securities Inc. now owns 36,790 shares of the technology company’s stock worth $4,066,000 after acquiring an additional 28,333 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in shares of Arista Networks by 301.6% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,357 shares of the technology company’s stock worth $703,000 after acquiring an additional 4,774 shares in the last quarter. Everhart Financial Group Inc. boosted its stake in shares of Arista Networks by 76.6% during the 4th quarter. Everhart Financial Group Inc. now owns 2,259 shares of the technology company’s stock worth $250,000 after acquiring an additional 980 shares in the last quarter. Beacon Capital Management LLC lifted its stake in Arista Networks by 266.3% in the 4th quarter. Beacon Capital Management LLC now owns 348 shares of the technology company’s stock valued at $38,000 after buying an additional 253 shares in the last quarter. Finally, Seascape Capital Management purchased a new stake in Arista Networks in the 4th quarter valued at approximately $2,768,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,944 shares of company stock worth $30,214,186 in the last ninety days. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ANET shares. Wells Fargo & Company upped their target price on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group upped 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. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Down 6.5 %

ANET stock opened at $103.82 on Thursday. The company has a market cap of $130.79 billion, a price-to-earnings ratio of 49.91, a PEG ratio of 2.87 and a beta of 1.09. The business has a fifty day simple moving average of $114.08 and a 200-day simple moving average of $101.54. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. As a group, analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal 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.