Golden State Wealth Management LLC Buys Shares of 712 Arista Networks, Inc. (NYSE:ANET)

Golden State Wealth Management LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 712 shares of the technology company’s stock, valued at approximately $79,000.

A number of other large investors have also made changes to their positions in ANET. Zions Bancorporation N.A. boosted its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC raised its stake in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after buying an additional 27 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after buying an additional 28 shares in the last quarter. Altman Advisors Inc. grew its stake in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares during the last quarter. Finally, HM Payson & Co. raised its position in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,832 shares of company stock worth $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 2.8 %

NYSE ANET opened at $118.52 on Monday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The company has a market cap of $149.31 billion, a PE ratio of 56.98, a PEG ratio of 3.10 and a beta of 1.09. The stock’s 50-day moving average price is $113.21 and its two-hundred day moving average price is $99.91.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. Research analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group raised their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group upped their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities raised their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

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.