Arista Networks, Inc. (NYSE:ANET) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 51.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,195 shares of the technology company’s stock after selling 1,283 shares during the period. Gallacher Capital Management LLC’s holdings in Arista Networks were worth $281,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ANET. Sandy Spring Bank lifted its holdings in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its holdings in shares of Arista Networks by 1.8% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after acquiring an additional 40 shares during the period. West Family Investments Inc. grew its position in shares of Arista Networks by 3.3% during the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after acquiring an additional 40 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after acquiring an additional 41 shares during the period. Finally, PDS Planning Inc raised its position in Arista Networks by 3.1% in the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock valued at $324,000 after purchasing an additional 41 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Up 1.6 %

Shares of Arista Networks stock traded up $4.42 on Monday, hitting $278.82. The company’s stock had a trading volume of 2,030,772 shares, compared to its average volume of 2,450,644. The company has a market capitalization of $87.17 billion, a P/E ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13. Arista Networks, Inc. has a 52-week low of $133.42 and a 52-week high of $307.74. The firm has a fifty day moving average price of $279.07 and a 200-day moving average price of $250.02.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, analysts expect that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $265,739.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Marc Taxay sold 1,044 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $4,929,639.61. The disclosure for this sale can be found here. Insiders sold a total of 335,974 shares of company stock valued at $96,252,685 over the last three months. 3.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays lifted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group increased their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company boosted their target price on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. increased their price target on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $240.00 to $320.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $285.53.

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.