Cumberland Partners Ltd Grows Stock Position in Arista Networks, Inc. (NYSE:ANET)

Cumberland Partners Ltd raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 9.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,000 shares of the technology company’s stock after buying an additional 250 shares during the period. Cumberland Partners Ltd’s holdings in Arista Networks were worth $707,000 as of its most recent SEC filing.

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

Arista Networks Price Performance

Shares of Arista Networks stock traded up $4.53 during midday trading on Wednesday, reaching $255.71. The company had a trading volume of 1,973,097 shares, compared to its average volume of 2,460,179. The stock has a fifty day moving average price of $279.29 and a 200 day moving average price of $246.19. The firm has a market cap of $79.94 billion, a PE ratio of 38.85, a P/E/G ratio of 2.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ANET shares. The Goldman Sachs Group lifted their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. KeyCorp boosted their price target on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 8th. Finally, Rosenblatt Securities restated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity

In related news, CEO Jayshree Ullal sold 733 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $268.15, for a total transaction of $196,553.95. Following the sale, the chief executive officer now owns 74,031 shares of the company’s stock, valued at approximately $19,851,412.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 733 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $268.15, for a total value of $196,553.95. Following the transaction, the chief executive officer now owns 74,031 shares in the company, valued at $19,851,412.65. The disclosure for this sale can be found here. Insiders have sold 334,227 shares of company stock valued at $95,828,875 in the last 90 days. Insiders own 18.99% of the company’s stock.

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.