Weatherly Asset Management L. P. Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Weatherly Asset Management L. P. boosted its position in Arista Networks, Inc. (NYSE:ANET) by 140.2% in the 4th quarter, Holdings Channel reports. The fund owned 14,385 shares of the technology company’s stock after purchasing an additional 8,395 shares during the period. Weatherly Asset Management L. P.’s holdings in Arista Networks were worth $3,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $28,000. First Command Advisory Services Inc. acquired a new position in shares of Arista Networks in the 3rd quarter valued at $29,000. BluePath Capital Management LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $33,000. NBC Securities Inc. acquired a new position in shares of Arista Networks in the 3rd quarter valued at $33,000. Finally, Atticus Wealth Management LLC boosted its holdings 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 purchasing an additional 145 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 334,227 shares of company stock valued at $95,828,875. Insiders own 18.99% of the company’s stock.

Arista Networks Stock Up 2.4 %

Shares of ANET traded up $5.81 during midday trading on Tuesday, hitting $251.28. The company had a trading volume of 2,297,441 shares, compared to its average volume of 2,467,584. The company’s 50 day moving average price is $279.58 and its 200 day moving average price is $245.79. The stock has a market cap of $78.56 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 2.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. Equities analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Barclays lifted their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. Rosenblatt Securities restated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

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.