TBH Global Asset Management LLC Invests $280,000 in Arista Networks, Inc. (NYSE:ANET)

TBH Global Asset Management LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,535 shares of the technology company's stock, valued at approximately $280,000.

Several other hedge funds also recently modified their holdings of ANET. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% in 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 in the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Arista Networks by 300.0% during the fourth 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 lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. New Millennium Group LLC grew its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares during the period. Finally, Westside Investment Management Inc. increased its stake in Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company's stock valued at $31,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Stock Down 4.9 %

ANET traded down $5.10 during trading on Friday, hitting $98.31. 13,984,341 shares of the company traded hands, compared to its average volume of 10,062,921. The firm has a market cap of $123.84 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock's fifty day moving average is $113.94 and its 200 day moving average is $101.57.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The stock was 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. This represents a 4.45 % 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 ninety days. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ANET. Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $113.79.

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.