Allworth Financial LP Acquires 7,936 Shares of Arista Networks, Inc. (NYSE:ANET)

Allworth Financial LP raised its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 338.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,281 shares of the technology company's stock after buying 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 reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Principal Securities Inc. lifted its position 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 valued at $4,066,000 after acquiring an additional 28,333 shares during the period. Legacy Capital Wealth Partners LLC lifted its position 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 buying an additional 4,774 shares during the last quarter. Everhart Financial Group Inc. lifted its position 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 buying an additional 980 shares during the last quarter. Beacon Capital Management LLC lifted its position in shares of Arista Networks by 266.3% during the 4th quarter. Beacon Capital Management LLC now owns 348 shares of the technology company's stock worth $38,000 after buying an additional 253 shares during the last quarter. Finally, Seascape Capital Management bought a new stake in shares of Arista Networks during the 4th quarter worth $2,768,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company's stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction dated 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 directly owns 12,976 shares of the company's stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,944 shares of company stock valued at $30,214,186 over the last 90 days. Insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

Arista Networks stock traded down $4.27 during midday trading on Friday, hitting $99.13. 7,247,569 shares of the company's stock were exchanged, compared to its average volume of 9,844,938. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The stock has a 50-day moving average price of $113.94 and a two-hundred day moving average price of $101.57. The company has a market cap of $124.88 billion, a P/E ratio of 44.59, a PEG ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their price target on Arista Networks from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Citigroup increased their price target 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.79.

About Arista Networks

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.