Weatherly Asset Management L. P. Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Weatherly Asset Management L. P. lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 140.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,385 shares of the technology company's stock after buying an additional 8,395 shares during the quarter. Weatherly Asset Management L. P.'s holdings in Arista Networks were worth $3,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in shares of Arista Networks in the fourth quarter worth approximately $35,000. Atticus Wealth Management LLC increased its holdings in Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company's stock worth $35,000 after purchasing an additional 145 shares during the period. Larson Financial Group LLC purchased a new position in Arista Networks during the 3rd quarter worth $28,000. Sandy Spring Bank increased its holdings in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company's stock worth $37,000 after purchasing an additional 39 shares during the period. Finally, First Command Advisory Services Inc. purchased a new position in Arista Networks during the 3rd quarter worth $29,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

ANET traded up $5.81 on Tuesday, reaching $251.28. 2,297,441 shares of the stock were exchanged, compared to its average volume of 2,467,584. The company's 50-day moving average price is $279.58 and its 200 day moving average price is $245.79. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The firm has a market capitalization of $78.56 billion, a PE ratio of 38.25, a PEG ratio of 2.10 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, equities analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 733 shares of the business's stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $268.15, for a total transaction of $196,553.95. Following the transaction, the chief executive officer now directly owns 74,031 shares in the company, valued at approximately $19,851,412.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Jayshree Ullal sold 733 shares of the company's stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $268.15, for a total value of $196,553.95. Following the transaction, the chief executive officer now directly owns 74,031 shares in the company, valued at $19,851,412.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Insiders sold a total of 334,227 shares of company stock worth $95,828,875 in the last 90 days. Corporate insiders own 18.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ANET. The Goldman Sachs Group raised their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Oppenheimer restated a "market perform" rating on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. raised their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Evercore ISI reiterated an "outperform" rating and issued a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Finally, Barclays lifted their price target on Arista Networks from $272.00 to $311.00 and gave the company an "overweight" rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $275.59.

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.

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