Broadleaf Partners LLC Acquires 93,799 Shares of Arista Networks, Inc. (NYSE:ANET)

Broadleaf Partners LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 293.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,723 shares of the technology company's stock after buying an additional 93,799 shares during the quarter. Arista Networks accounts for 3.2% of Broadleaf Partners LLC's portfolio, making the stock its 9th biggest holding. Broadleaf Partners LLC's holdings in Arista Networks were worth $13,896,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Caitlin John LLC lifted its position in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its stake in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the period. Cranbrook Wealth Management LLC raised its position in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its stake in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated 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 transaction, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 410,863 shares of company stock valued at $39,344,612 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ANET has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Rosenblatt Securities reiterated a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Needham & Company LLC restated a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Evercore ISI dropped their price objective on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Barclays restated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.07.

Arista Networks Stock Up 2.2 %

Shares of Arista Networks stock traded up $1.50 during trading on Tuesday, reaching $69.17. 3,185,007 shares of the company were exchanged, compared to its average volume of 11,189,904. The business has a 50-day moving average price of $83.39 and a 200-day moving average price of $99.08. The firm has a market capitalization of $87.23 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its 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. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS 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.