Lifeworks Advisors LLC Has $341,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Lifeworks Advisors LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 299.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,082 shares of the technology company’s stock after buying an additional 2,310 shares during the period. Lifeworks Advisors LLC’s holdings in Arista Networks were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Intellectus Partners LLC lifted its stake in Arista Networks by 279.2% during the fourth quarter. Intellectus Partners LLC now owns 7,308 shares of the technology company’s stock worth $808,000 after purchasing an additional 5,381 shares during the period. Larson Financial Group LLC raised its holdings in shares of Arista Networks by 354.5% in the 4th quarter. Larson Financial Group LLC now owns 5,536 shares of the technology company’s stock worth $612,000 after buying an additional 4,318 shares in the last quarter. HM Payson & Co. lifted its position in shares of Arista Networks by 3,173.5% during the 4th quarter. HM Payson & Co. now owns 4,321 shares of the technology company’s stock worth $478,000 after buying an additional 4,189 shares during the period. PNC Financial Services Group Inc. boosted its stake in Arista Networks by 326.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 264,176 shares of the technology company’s stock valued at $29,199,000 after buying an additional 202,185 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Arista Networks by 254.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 197,536 shares of the technology company’s stock valued at $22,980,000 after acquiring an additional 141,839 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the transaction, the director now owns 147,784 shares of the company’s stock, valued at $13,157,209.52. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 411,289 shares of company stock valued at $42,355,417. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ANET shares. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group lifted their target price 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 increased their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Citigroup lifted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Down 1.2 %

Arista Networks stock opened at $83.31 on Friday. The business’s 50-day simple moving average is $108.92 and its 200 day simple moving average is $102.08. The stock has a market cap of $105.07 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results 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 net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.