Arista Networks, Inc. (NYSE:ANET) Position Increased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE boosted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 301.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 270,552 shares of the technology company's stock after acquiring an additional 203,089 shares during the period. Congress Wealth Management LLC DE's holdings in Arista Networks were worth $29,904,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ANET. Caitlin John LLC boosted its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in shares of 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 boosted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont grew its position in shares of 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 acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its position in 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 last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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Wall Street Analyst Weigh In

ANET has been the topic of several research reports. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. 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 report on Wednesday, February 19th. Needham & Company LLC reissued a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com lowered Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Arista Networks has an average rating of "Moderate Buy" and a consensus price target of $114.00.

Insiders Place Their Bets

In other Arista Networks news, 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 value of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares of the company's stock, valued at $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction 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. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Corporate insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $0.64 during trading on Tuesday, hitting $86.87. The company's stock had a trading volume of 7,716,252 shares, compared to its average volume of 10,723,912. The company has a market capitalization of $109.55 billion, a PE ratio of 39.13, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The stock's 50-day moving average price is $102.03 and its two-hundred day moving average price is $101.92.

Arista Networks (NYSE:ANET - Get Free Report) last announced 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 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 predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal 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.