Berkshire Capital Holdings Inc. Buys 55,430 Shares of Arista Networks, Inc. (NYSE:ANET)

Berkshire Capital Holdings Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 257.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,950 shares of the technology company's stock after purchasing an additional 55,430 shares during the period. Arista Networks comprises 3.1% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 15th largest holding. Berkshire Capital Holdings Inc.'s holdings in Arista Networks were worth $8,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quest Partners LLC lifted its stake in Arista Networks by 149.2% in the third quarter. Quest Partners LLC now owns 2,896 shares of the technology company's stock valued at $1,112,000 after buying an additional 1,734 shares during the period. Pathstone Holdings LLC increased its holdings in shares of Arista Networks by 6.4% during the third quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company's stock valued at $9,863,000 after acquiring an additional 1,554 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Arista Networks by 24.8% during the third quarter. Caprock Group LLC now owns 7,429 shares of the technology company's stock valued at $2,851,000 after acquiring an additional 1,475 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Arista Networks by 52.5% during the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company's stock worth $70,000 after buying an additional 63 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Arista Networks by 4.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 5,348 shares of the technology company's stock worth $2,053,000 after buying an additional 226 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Arista Networks Stock Performance

ANET traded up $0.29 on Friday, hitting $83.26. 10,783,647 shares of the company were exchanged, compared to its average volume of 8,572,084. The firm has a fifty day simple moving average of $102.53 and a two-hundred day simple moving average of $101.89. 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 $104.99 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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 the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for 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 analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ANET shares. Citigroup upped their price objective on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Morgan Stanley increased their price objective 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 reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, StockNews.com cut Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.00.

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.