Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Alaethes Wealth LLC

Alaethes Wealth LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 292.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,857 shares of the technology company's stock after purchasing an additional 34,169 shares during the period. Arista Networks accounts for about 1.8% of Alaethes Wealth LLC's investment portfolio, making the stock its 11th biggest holding. Alaethes Wealth LLC's holdings in Arista Networks were worth $5,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Morse Asset Management Inc bought a new position in Arista Networks in the third quarter worth $123,000. Virtu Financial LLC purchased a new position in Arista Networks during the 3rd quarter valued at about $1,752,000. World Investment Advisors LLC bought a new stake in Arista Networks during the third quarter worth about $401,000. Wilmington Savings Fund Society FSB purchased a new stake in Arista Networks in the third quarter worth about $2,222,000. Finally, Synovus Financial Corp lifted its holdings in shares of Arista Networks by 6.2% during the third quarter. Synovus Financial Corp now owns 5,613 shares of the technology company's stock valued at $2,154,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup reduced their price objective on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Morgan Stanley upped their price target on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Four equities research analysts have rated the stock with 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 target price of $108.36.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares of the company's stock, valued at $13,157,209.52. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,355 shares of company stock valued at $39,259,279. Company insiders own 3.54% of the company's stock.

Arista Networks Price Performance

ANET stock traded down $0.61 during mid-day trading on Monday, reaching $90.41. The company had a trading volume of 6,979,823 shares, compared to its average volume of 9,167,740. The firm has a 50 day moving average of $79.15 and a 200 day moving average of $97.69. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The company has a market capitalization of $113.52 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Analysts anticipate 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.