Arista Networks, Inc. (NYSE:ANET) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 379.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,968 shares of the technology company's stock after buying an additional 5,515 shares during the period. EverSource Wealth Advisors LLC's holdings in Arista Networks were worth $770,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ANET. Stock Yards Bank & Trust Co. purchased a new stake in Arista Networks in the 4th quarter valued at $242,000. GHE LLC raised its position in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock valued at $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC raised its position in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock valued at $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Unified Investment Management purchased a new stake in Arista Networks in the 4th quarter valued at $630,000. Finally, Silver Oak Securities Incorporated raised its position in Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock valued at $2,072,000 after purchasing an additional 14,843 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company's stock, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company's stock.

Arista Networks Price Performance

Arista Networks stock opened at $80.11 on Friday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The stock has a market capitalization of $101.02 billion, a P/E ratio of 36.08, a P/E/G ratio of 3.10 and a beta of 1.08. The firm's 50-day moving average is $106.38 and its two-hundred day moving average is $101.73.

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Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

ANET has been the subject of several research reports. Citigroup upped their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Rosenblatt Securities restated a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, 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, February 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Arista Networks 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.

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