Tradition Wealth Management LLC Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Tradition Wealth Management LLC grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 541.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,412 shares of the technology company's stock after buying an additional 7,100 shares during the period. Tradition Wealth Management LLC's holdings in Arista Networks were worth $930,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Transce3nd LLC acquired a new stake in Arista Networks in the fourth quarter valued at approximately $90,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Arista Networks by 1,951.6% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 636 shares of the technology company's stock worth $70,000 after acquiring an additional 605 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Arista Networks during the fourth quarter worth $3,452,000. MML Investors Services LLC grew its position in shares of Arista Networks by 270.9% in the fourth quarter. MML Investors Services LLC now owns 238,040 shares of the technology company's stock valued at $26,311,000 after purchasing an additional 173,862 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Arista Networks by 129.8% during the fourth quarter. MetLife Investment Management LLC now owns 180,850 shares of the technology company's stock worth $19,989,000 after purchasing an additional 102,135 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ANET. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and increased their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Needham & Company LLC reiterated a "buy" rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Morgan Stanley cut their price target on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and a consensus price target of $104.29.

Arista Networks Stock Performance

ANET traded up $2.62 on Friday, hitting $77.91. 8,151,757 shares of the company were exchanged, compared to its average volume of 9,106,393. The business's fifty day moving average is $81.23 and its 200 day moving average is $98.52. The firm has a market capitalization of $97.83 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

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

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares in the company, valued at $512,305.20. This represents a 16.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,355 shares of company stock worth $39,446,799. Corporate insiders own 3.54% of the company's stock.

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.