Benjamin Edwards Inc. Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Benjamin Edwards Inc. boosted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 355.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,650 shares of the technology company's stock after buying an additional 41,865 shares during the period. Benjamin Edwards Inc.'s holdings in Arista Networks were worth $5,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ANET. World Investment Advisors LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at about $401,000. Principal Financial Group Inc. lifted its holdings in Arista Networks by 9.3% in the third quarter. Principal Financial Group Inc. now owns 339,556 shares of the technology company's stock valued at $130,328,000 after acquiring an additional 29,006 shares during the period. CWA Asset Management Group LLC boosted its position in Arista Networks by 324.8% in the 4th quarter. CWA Asset Management Group LLC now owns 3,292 shares of the technology company's stock worth $364,000 after purchasing an additional 2,517 shares in the last quarter. Capital Market Strategies LLC grew its stake in shares of Arista Networks by 307.5% during the 4th quarter. Capital Market Strategies LLC now owns 5,294 shares of the technology company's stock worth $585,000 after purchasing an additional 3,995 shares during the period. Finally, Horizons Wealth Management lifted its stake in shares of Arista Networks by 300.0% in the 4th quarter. Horizons Wealth Management now owns 800 shares of the technology company's stock valued at $88,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares of the company's stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,355 shares of company stock worth $39,259,279. Insiders own 3.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC reiterated a "buy" rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup cut 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. Finally, Evercore ISI decreased their target price on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $108.36.

Arista Networks Stock Down 0.7 %

Shares of NYSE:ANET opened at $90.41 on Tuesday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The business has a fifty day moving average of $79.03 and a two-hundred day moving average of $97.62. The stock has a market cap of $113.52 billion, a P/E ratio of 40.73, a PEG ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current 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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