NWK Group Inc. Raises Stake in Arista Networks, Inc. (NYSE:ANET)

NWK Group Inc. increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 303.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,487 shares of the technology company's stock after buying an additional 56,044 shares during the period. Arista Networks comprises approximately 3.2% of NWK Group Inc.'s portfolio, making the stock its 13th largest position. NWK Group Inc.'s holdings in Arista Networks were worth $8,233,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Caitlin John LLC raised 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 worth $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Arista Networks by 335.1% during the 4th 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. New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the period. Cranbrook Wealth Management LLC boosted its stake in Arista Networks by 300.0% during the 4th 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 during the last quarter. Finally, Trust Co. of Vermont lifted 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 valued at $29,000 after purchasing an additional 198 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ANET. Rosenblatt Securities reduced their price objective on Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a report on Tuesday. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Citigroup dropped their target price on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.29.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The sale 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 company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now owns 155,784 shares of the company's stock, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 410,863 shares of company stock worth $39,344,612 over the last quarter. 3.54% of the stock is currently owned by insiders.

Arista Networks Trading Up 4.2 %

Shares of ANET stock traded up $2.89 during trading hours on Wednesday, reaching $71.56. 7,243,907 shares of the company's stock were exchanged, compared to its average volume of 9,087,267. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The stock has a market cap of $89.85 billion, a PE ratio of 32.23, a PEG ratio of 3.10 and a beta of 1.30. The stock's fifty day moving average price is $82.57 and its two-hundred day moving average price is $98.87.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS 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 firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS 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.