Keel Point LLC Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Keel Point LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 310.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,861 shares of the technology company's stock after acquiring an additional 2,921 shares during the quarter. Keel Point LLC's holdings in Arista Networks were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANET. Davidson Kahn Capital Management LLC purchased a new position in Arista Networks in the 4th quarter worth about $986,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Arista Networks by 442.5% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,857,720 shares of the technology company's stock worth $205,334,000 after buying an additional 1,515,252 shares during the period. JAT Capital Mgmt LP bought a new position in shares of Arista Networks during the 4th quarter worth $1,949,000. Rehmann Capital Advisory Group increased its stake in shares of Arista Networks by 244.6% during the fourth quarter. Rehmann Capital Advisory Group now owns 4,056 shares of the technology company's stock valued at $448,000 after buying an additional 2,879 shares during the period. Finally, Bison Wealth LLC bought a new stake in shares of Arista Networks in the fourth quarter valued at about $251,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Trading Down 0.7 %

NYSE:ANET traded down $0.61 during trading hours on Monday, hitting $90.41. 6,979,823 shares of the stock were exchanged, compared to its average volume of 9,167,735. The firm's fifty day moving average price is $79.15 and its 200 day moving average price is $97.69. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The company has a market cap of $113.52 billion, a P/E ratio of 40.73, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ANET shares. Morgan Stanley lifted their price target on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup lowered their price target on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Rosenblatt Securities upgraded Arista Networks from a "sell" rating to a "neutral" rating and upped their target price for the stock from $55.00 to $85.00 in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $108.36.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $88.58, for a total value of $708,640.00. Following the completion of the transaction, the director now owns 131,784 shares of the company's stock, valued at $11,673,426.72. The trade was a 5.72 % 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. 3.54% of the stock is owned by insiders.

Arista Networks Company 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.