Arista Networks, Inc. (NYSE:ANET) Position Boosted by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 258.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,516 shares of the technology company's stock after purchasing an additional 14,067 shares during the period. Arista Networks comprises about 0.9% of Prosperity Wealth Management Inc.'s investment portfolio, making the stock its 17th biggest holding. Prosperity Wealth Management Inc.'s holdings in Arista Networks were worth $2,157,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Zions Bancorporation N.A. increased its stake in shares of Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company's stock valued at $160,000 after purchasing an additional 27 shares during the period. Intellectus Partners LLC increased its stake in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company's stock valued at $740,000 after purchasing an additional 27 shares during the period. Altman Advisors Inc. increased its stake in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company's stock valued at $2,250,000 after purchasing an additional 28 shares during the period. Anchor Investment Management LLC increased its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after purchasing an additional 35 shares during the period. Finally, Freedom Investment Management Inc. increased its stake in shares of Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company's stock valued at $622,000 after purchasing an additional 36 shares during the period. Institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on ANET shares. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Citigroup raised their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Barclays restated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and a consensus price target of $114.00.

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Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares of the company's stock, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company's stock.

Arista Networks Stock Up 1.9 %

Shares of NYSE:ANET opened at $79.07 on Wednesday. The firm has a fifty day moving average of $107.62 and a two-hundred day moving average of $102.03. The firm has a market capitalization of $99.72 billion, a P/E ratio of 35.62, a price-to-earnings-growth 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.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.

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