Arista Networks, Inc. (NYSE:ANET) Shares Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 634.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,663 shares of the technology company's stock after buying an additional 4,028 shares during the quarter. Proficio Capital Partners LLC's holdings in Arista Networks were worth $515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC raised its position in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock worth $51,000 after acquiring an additional 128 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after purchasing an additional 35 shares during the last quarter. Caitlin John LLC lifted its stake 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 buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in 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 buying an additional 191 shares during the last quarter. Finally, New Millennium Group LLC increased its position 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 in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC restated a "buy" rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Stock Performance

ANET traded down $0.53 on Tuesday, reaching $86.98. 4,583,390 shares of the company's stock were exchanged, compared to its average volume of 8,570,789. The company has a market cap of $109.69 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The company's 50 day moving average is $102.03 and its 200-day moving average is $101.92.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current 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.