1,816 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Laidlaw Wealth Management LLC

Laidlaw Wealth Management LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,816 shares of the technology company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently added to or reduced their stakes in ANET. OLD National Bancorp IN increased its position in Arista Networks by 6.0% during the third quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company’s stock worth $417,000 after buying an additional 62 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Arista Networks by 2.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company’s stock worth $1,362,000 after buying an additional 68 shares during the period. Raleigh Capital Management Inc. increased its position in Arista Networks by 16.6% during the third quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company’s stock worth $207,000 after buying an additional 77 shares during the period. Foundations Investment Advisors LLC increased its position in Arista Networks by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after buying an additional 31 shares during the period. Finally, Vicus Capital acquired a new position in Arista Networks during the third quarter worth approximately $211,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ANET. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday. Wells Fargo & Company boosted their target price on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday. Finally, Citigroup boosted their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Down 6.5 %

Shares of NYSE:ANET opened at $103.82 on Thursday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The stock’s fifty day simple moving average is $114.08 and its 200-day simple moving average is $101.54. The company has a market capitalization of $130.79 billion, a P/E ratio of 49.91, a P/E/G ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Activity

In related news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,944 shares of company stock worth $30,214,186 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks 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.