GLOBALT Investments LLC GA Has $5.08 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

GLOBALT Investments LLC GA lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 301.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,001 shares of the technology company’s stock after buying an additional 34,538 shares during the period. GLOBALT Investments LLC GA’s holdings in Arista Networks were worth $5,084,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks in the 4th quarter worth about $242,000. GHE LLC increased its holdings in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after purchasing an additional 21,597 shares in the last quarter. Colonial River Investments LLC increased its holdings in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in Arista Networks in the 4th quarter worth about $630,000. Finally, Silver Oak Securities Incorporated increased its holdings in Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after purchasing an additional 14,843 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock worth $49,112,111. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $83.58 on Monday. The business’s 50 day simple moving average is $105.75 and its two-hundred day simple moving average is $101.94. The firm has a market cap of $105.41 billion, a P/E ratio of 37.65, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Barclays reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

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.