Harvest Fund Management Co. Ltd Has $609,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Harvest Fund Management Co. Ltd cut its position in shares of Arista Networks, Inc. (NYSE:ANET) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,585 shares of the technology company’s stock after selling 491 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Arista Networks were worth $609,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ANET. Larson Financial Group LLC acquired a new position in Arista Networks during the 3rd quarter worth about $28,000. First Command Advisory Services Inc. acquired a new stake in Arista Networks during the third quarter worth approximately $29,000. BluePath Capital Management LLC acquired a new position in Arista Networks in the third quarter valued at approximately $33,000. NBC Securities Inc. bought a new stake in shares of Arista Networks in the 3rd quarter valued at $33,000. Finally, Atticus Wealth Management LLC grew its holdings in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The disclosure for this sale can be found here. Insiders have sold a total of 334,227 shares of company stock valued at $95,828,875 in the last quarter. Insiders own 18.99% of the company’s stock.

Arista Networks Price Performance

ANET stock traded up $3.59 during midday trading on Wednesday, reaching $254.77. The company had a trading volume of 2,562,767 shares, compared to its average volume of 2,468,664. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a market capitalization of $79.65 billion, a P/E ratio of 38.85, a P/E/G ratio of 2.10 and a beta of 1.09. The firm has a 50-day moving average price of $279.29 and a 200-day moving average price of $246.19.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion for 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 business’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. On average, equities analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on ANET shares. Evercore ISI restated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research note on Wednesday, March 27th. KeyCorp upped their price target on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Barclays lifted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Morgan Stanley raised their price target on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One investment 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 data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $275.59.

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.