Prosperity Consulting Group LLC Has $1.07 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Prosperity Consulting Group LLC increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 383.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,651 shares of the technology company's stock after purchasing an additional 7,653 shares during the quarter. Prosperity Consulting Group LLC's holdings in Arista Networks were worth $1,067,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ANET. Johnson Financial Group Inc. lifted its stake in shares of Arista Networks by 246.7% in the fourth quarter. Johnson Financial Group Inc. now owns 2,288 shares of the technology company's stock worth $264,000 after buying an additional 1,628 shares during the last quarter. Boothbay Fund Management LLC lifted its position in Arista Networks by 294.1% during the 4th quarter. Boothbay Fund Management LLC now owns 99,941 shares of the technology company's stock worth $11,046,000 after acquiring an additional 74,580 shares during the last quarter. DE Burlo Group Inc. boosted its holdings in Arista Networks by 288.7% during the fourth quarter. DE Burlo Group Inc. now owns 17,172 shares of the technology company's stock valued at $1,898,000 after acquiring an additional 12,754 shares during the period. Virtus ETF Advisers LLC grew its position in shares of Arista Networks by 322.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,716 shares of the technology company's stock valued at $1,295,000 after purchasing an additional 8,942 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in shares of Arista Networks by 217.6% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,182,032 shares of the technology company's stock worth $130,650,000 after purchasing an additional 809,859 shares during the period. Institutional investors own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now owns 7,480 shares in the company, valued at approximately $512,305.20. This trade represents a 16.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 412,355 shares of company stock worth $39,446,799 over the last ninety days. Corporate insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

ANET has been the subject of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Evercore ISI reduced their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price objective on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.29.

Arista Networks Price Performance

Arista Networks stock opened at $77.96 on Friday. The business has a 50 day simple moving average of $80.57 and a 200 day simple moving average of $98.34. The company has a market capitalization of $97.89 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

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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