PFG Private Wealth Management LLC Purchases 3,104 Shares of Arista Networks, Inc. (NYSE:ANET)

PFG Private Wealth Management LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 279.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,215 shares of the technology company's stock after buying an additional 3,104 shares during the quarter. Arista Networks makes up about 0.3% of PFG Private Wealth Management LLC's investment portfolio, making the stock its 28th biggest position. PFG Private Wealth Management LLC's holdings in Arista Networks were worth $466,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ANET. Caitlin John LLC grew its stake in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its stake in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont grew its stake in 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 last quarter. Finally, New Millennium Group LLC grew its stake in 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 buying an additional 195 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANET. Rosenblatt Securities reissued a "sell" rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their price target for the company from $112.00 to $115.00 in a research note on Wednesday. Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $114.00.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the sale, the director now directly owns 147,784 shares in the company, valued at $13,157,209.52. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the firm's 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 owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,289 shares of company stock worth $51,018,617. Company insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

ANET opened at $87.83 on Thursday. The firm's fifty day moving average is $110.13 and its two-hundred day moving average is $102.14. The firm has a market cap of $110.76 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57.

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 the consensus estimate 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 net margin of 40.72% and a return on equity of 29.91%. Equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company 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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