3,764 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Bfsg LLC

Bfsg LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,764 shares of the technology company’s stock, valued at approximately $886,000.

A number of other large investors also recently modified their holdings of the business. Mizuho Securities Co. Ltd. lifted its holdings in shares of Arista Networks by 204.5% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 670 shares of the technology company’s stock worth $158,000 after buying an additional 450 shares during the last quarter. Cumberland Partners Ltd grew its position in Arista Networks by 9.1% in the fourth quarter. Cumberland Partners Ltd now owns 3,000 shares of the technology company’s stock valued at $707,000 after acquiring an additional 250 shares during the period. Weatherly Asset Management L. P. grew its position in Arista Networks by 140.2% in the fourth quarter. Weatherly Asset Management L. P. now owns 14,385 shares of the technology company’s stock valued at $3,388,000 after acquiring an additional 8,395 shares during the period. GAMMA Investing LLC bought a new stake in Arista Networks in the fourth quarter valued at $370,000. Finally, Parkside Financial Bank & Trust grew its position in Arista Networks by 12.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 516 shares of the technology company’s stock valued at $122,000 after acquiring an additional 57 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Up 1.4 %

ANET stock traded up $3.59 during midday trading on Wednesday, hitting $254.77. The company’s stock had a trading volume of 2,586,493 shares, compared to its average volume of 2,469,119. The company has a market cap of $79.65 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 12 month low of $131.68 and a 12 month high of $307.74. The firm’s 50-day moving average is $279.29 and its 200-day moving average is $246.19.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. Analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, CEO Jayshree Ullal sold 980 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $268.29, for a total transaction of $262,924.20. Following the completion of the transaction, the chief executive officer now owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the 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 completion of the transaction, 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 quarter, insiders sold 334,227 shares of company stock valued at $95,828,875. Company insiders own 18.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Monday, January 8th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $275.59.

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.