Sheaff Brock Investment Advisors LLC Acquires 24,405 Shares of Arista Networks, Inc. (NYSE:ANET)

Sheaff Brock Investment Advisors LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 244.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,381 shares of the technology company's stock after purchasing an additional 24,405 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Arista Networks were worth $3,800,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ANET. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks during the fourth quarter valued at approximately $242,000. Silver Oak Securities Incorporated boosted its stake in shares of Arista Networks by 395.8% during the 4th 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 last quarter. Chevy Chase Trust Holdings LLC grew its position in shares of Arista Networks by 292.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company's stock valued at $66,599,000 after acquiring an additional 449,088 shares during the period. CENTRAL TRUST Co increased its stake in shares of Arista Networks by 475.5% in the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company's stock worth $462,000 after purchasing an additional 3,457 shares in the last quarter. Finally, Triasima Portfolio Management inc. raised its holdings in Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company's stock worth $8,675,000 after purchasing an additional 61,833 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business'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 directly owns 42,946 shares of the company's stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 71,036 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 337,320 shares of company stock worth $37,946,706. Insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ANET. UBS Group boosted their price target on Arista Networks from $106.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday. Citigroup boosted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $113.79.

Arista Networks Stock Performance

Shares of ANET traded down $6.78 during midday trading on Wednesday, hitting $104.28. 15,192,661 shares of the company traded hands, compared to its average volume of 9,579,399. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The firm has a 50 day moving average of $114.08 and a 200-day moving average of $101.54. The stock has a market cap of $131.36 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 analysts' expectations of $1.90 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Sell-side analysts predict that Arista Networks, Inc. will post 1.97 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.