WR Wealth Planners LLC Grows Stake in Arista Networks, Inc. (NYSE:ANET)

WR Wealth Planners LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 203.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,986 shares of the technology company’s stock after buying an additional 3,344 shares during the period. WR Wealth Planners LLC’s holdings in Arista Networks were worth $551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ANET. Strategic Blueprint LLC purchased a new stake in shares of Arista Networks during the third quarter worth about $266,000. Mutual Advisors LLC increased its stake in shares of Arista Networks by 13.1% during the third quarter. Mutual Advisors LLC now owns 5,154 shares of the technology company’s stock worth $2,039,000 after purchasing an additional 595 shares in the last quarter. Financial Advocates Investment Management increased its stake in shares of Arista Networks by 5.5% during the third quarter. Financial Advocates Investment Management now owns 799 shares of the technology company’s stock worth $307,000 after purchasing an additional 42 shares in the last quarter. HM Payson & Co. increased its stake in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in Arista Networks by 34.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 11,338 shares of the technology company’s stock valued at $4,352,000 after acquiring an additional 2,930 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 433,441 shares of company stock worth $46,538,462. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

NYSE:ANET opened at $93.10 on Friday. The company’s 50-day moving average is $111.80 and its two-hundred day moving average is $102.08. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The firm has a market capitalization of $117.41 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 3.10 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 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.90 billion. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of several research reports. UBS Group upped their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup upped their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Barclays upped their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research 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. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

About Arista Networks

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.