Arista Networks, Inc. (NYSE:ANET) Holdings Raised by Wealth Alliance

Wealth Alliance lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 292.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,492 shares of the technology company's stock after acquiring an additional 31,652 shares during the period. Arista Networks accounts for about 0.6% of Wealth Alliance's investment portfolio, making the stock its 26th largest position. Wealth Alliance's holdings in Arista Networks were worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. OLD National Bancorp IN increased its holdings in shares of Arista Networks by 6.0% during the 3rd quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company's stock worth $417,000 after buying an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Arista Networks by 2.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company's stock worth $1,362,000 after purchasing an additional 68 shares during the period. Raleigh Capital Management Inc. lifted its stake in shares of Arista Networks by 16.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company's stock valued at $207,000 after purchasing an additional 77 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Arista Networks by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company's stock worth $251,000 after purchasing an additional 31 shares during the period. Finally, Vicus Capital purchased a new position in Arista Networks in the third quarter valued at approximately $211,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The shares were 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 in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 259,944 shares of company stock worth $30,214,186. 3.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday. One 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.79.

Arista Networks Price Performance

Shares of ANET stock traded down $4.60 on Friday, hitting $98.80. 9,318,845 shares of the stock traded hands, compared to its average volume of 9,905,531. The company has a market capitalization of $124.46 billion, a PE ratio of 44.48, a PEG ratio of 2.79 and a beta of 1.09. The company's fifty day moving average is $113.94 and its 200 day moving average is $101.57. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

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

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.