GAMMA Investing LLC Buys Shares of 1,431 Arista Networks, Inc. (NYSE:ANET)

GAMMA Investing LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,431 shares of the technology company’s stock, valued at approximately $370,000.

Other institutional investors also recently bought and sold shares of the company. AXQ Capital LP acquired a new stake in Arista Networks in the third quarter valued at approximately $791,000. Advisor Resource Council lifted its stake in shares of Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after buying an additional 5,866 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after buying an additional 194 shares during the period. WCM Investment Management LLC lifted its stake in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares during the period. Finally, Cambridge Trust Co. lifted its stake in shares of Arista Networks by 70.1% during the third quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock worth $9,243,000 after buying an additional 20,704 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 1.4 %

Shares of ANET opened at $254.76 on Thursday. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The firm’s 50 day moving average price is $279.08 and its 200 day moving average price is $246.25. The company has a market cap of $79.65 billion, a P/E ratio of 38.78, a PEG ratio of 2.15 and a beta of 1.09.

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

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the 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 owns 3,244 shares in the company, valued at approximately $940,922.20. 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, CEO Jayshree Ullal sold 980 shares of Arista Networks stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $268.29, for a total transaction of $262,924.20. Following the transaction, the chief executive officer now directly owns 73,051 shares of the company’s stock, valued at $19,598,852.79. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,494 shares of company stock worth $95,632,321. Company insiders own 18.99% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of several research reports. JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley raised their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.