Arista Networks, Inc. (NYSE:ANET) Stock Position Raised by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,612 shares of the technology company's stock after purchasing an additional 25,978 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Arista Networks were worth $3,826,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Caitlin John LLC raised 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 acquiring an additional 152 shares during the period. Cranbrook Wealth Management LLC raised its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont boosted its position in Arista Networks by 300.0% during the 4th 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 during the period. New Millennium Group LLC grew its stake 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 buying an additional 195 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company's stock worth $31,000 after buying an additional 253 shares during the period. Institutional investors own 82.47% of the company's stock.

Arista Networks Stock Down 7.5 %

Arista Networks stock traded down $8.30 during mid-day trading on Wednesday, hitting $102.76. The company's stock had a trading volume of 19,599,599 shares, compared to its average volume of 9,740,274. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The stock's fifty day moving average price is $114.08 and its two-hundred day moving average price is $101.54. The stock has a market capitalization of $129.45 billion, a P/E ratio of 49.33, a P/E/G ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Equities analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, insider John F. Mccool sold 288 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 337,320 shares of company stock valued at $37,946,706 over the last ninety days. Corporate insiders own 3.54% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ANET shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Wells Fargo & Company increased their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, UBS Group increased their price target on Arista Networks from $106.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday. One 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $113.79.

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.