Private Wealth Partners LLC Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Private Wealth Partners LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 317.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,992 shares of the technology company's stock after purchasing an additional 5,319 shares during the quarter. Private Wealth Partners LLC's holdings in Arista Networks were worth $773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ANET. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks in the fourth quarter worth approximately $242,000. Silver Oak Securities Incorporated grew its stake in shares of Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock worth $2,072,000 after acquiring an additional 14,843 shares during the period. Proactive Wealth Strategies LLC grew its stake in shares of Arista Networks by 387.6% in the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company's stock worth $676,000 after acquiring an additional 4,865 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in shares of Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company's stock worth $66,599,000 after acquiring an additional 449,088 shares during the period. Finally, 5T Wealth LLC bought a new stake in shares of Arista Networks in the fourth quarter worth approximately $1,046,000. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,944 shares of company stock worth $30,214,186 over the last quarter. Insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ANET. Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday. Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. UBS Group raised their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Finally, Evercore ISI raised their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and a consensus target price of $113.79.

Arista Networks Stock Down 4.6 %

NYSE:ANET traded down $4.77 during trading hours on Friday, hitting $98.63. 9,318,845 shares of the stock traded hands, compared to its average volume of 9,905,531. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The company has a market cap of $124.25 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. The stock has a 50 day moving average price of $113.94 and a 200 day moving average price of $101.57.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations 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 2.18 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.