MGO One Seven LLC Acquires 28,462 Shares of Arista Networks, Inc. (NYSE:ANET)

MGO One Seven LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 492.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,236 shares of the technology company's stock after purchasing an additional 28,462 shares during the quarter. MGO One Seven LLC's holdings in Arista Networks were worth $3,784,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Caitlin John LLC lifted its position in 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 acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after purchasing an additional 191 shares during the period. Cranbrook Wealth Management LLC lifted 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 purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont boosted 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 buying an additional 198 shares during the period. Finally, New Millennium Group LLC boosted its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ANET shares. Rosenblatt Securities cut their price target on shares of Arista Networks from $85.00 to $55.00 and set a "sell" rating on the stock in a research report on Tuesday. Barclays reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price target on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $104.29.

Arista Networks Trading Up 3.1 %

NYSE:ANET opened at $70.81 on Thursday. The stock has a 50 day simple moving average of $81.85 and a 200 day simple moving average of $98.68. The stock has a market cap of $88.91 billion, a P/E ratio of 31.90, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58.

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 for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,863 shares of company stock valued at $39,344,612 in the last quarter. Company insiders own 3.54% of the company's stock.

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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