Keel Point LLC Acquires New Shares in Arista Networks, Inc. (NYSE:ANET)

Keel Point LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANETFree Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 950 shares of the technology company’s stock, valued at approximately $224,000.

Other institutional investors also recently modified their holdings of the company. Atticus Wealth Management LLC raised its position in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after acquiring an additional 145 shares during the period. Larson Financial Group LLC acquired a new stake in Arista Networks in the third quarter worth $28,000. Sandy Spring Bank boosted its position in shares of Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares in the last quarter. First Command Advisory Services Inc. bought a new position in shares of Arista Networks during the third quarter worth $29,000. Finally, Sheets Smith Wealth Management acquired a new position in shares of Arista Networks in the 1st quarter valued at $304,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jayshree Ullal sold 18,621 shares of Arista Networks stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the completion of the sale, the chief executive officer now owns 82,766 shares of the company’s stock, valued at approximately $21,320,521.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the sale, the director now owns 2,678 shares of the company’s stock, valued at $700,055.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 18,621 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the transaction, the chief executive officer now directly owns 82,766 shares in the company, valued at $21,320,521.60. The disclosure for this sale can be found here. Insiders have sold 361,036 shares of company stock valued at $102,813,921 over the last ninety days. 18.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ANET. Morgan Stanley lifted their target price on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company lifted their price target on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. KeyCorp increased their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. JMP Securities restated a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Read Our Latest Report on Arista Networks

Arista Networks Stock Down 0.1 %

NYSE:ANET opened at $262.81 on Wednesday. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The firm has a market capitalization of $82.16 billion, a price-to-earnings ratio of 40.00, a P/E/G ratio of 2.34 and a beta of 1.09. The stock’s 50 day moving average price is $281.54 and its two-hundred day moving average price is $243.95.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. Equities research analysts expect that Arista Networks, Inc. will post 6.63 EPS for the current year.

About Arista Networks

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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