Arista Networks, Inc. (NYSE:ANET) Stake Raised by Onefund LLC

Onefund LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 302.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,714 shares of the technology company’s stock after acquiring an additional 2,040 shares during the quarter. Onefund LLC’s holdings in Arista Networks were worth $300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in Arista Networks in the third quarter worth about $44,000. HM Payson & Co. raised its holdings in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the period. True Wealth Design LLC raised its holdings in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the period. Anchor Investment Management LLC raised its holdings in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the period. Finally, Transcendent Capital Group LLC raised its holdings in Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Mccool sold 17,433 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total value of $1,683,504.81. The disclosure for this sale can be found here. Insiders have sold a total of 433,441 shares of company stock worth $46,538,462 over the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $93.10 on Friday. The business’s fifty day moving average price is $111.80 and its two-hundred day moving average price is $102.08. The stock has a market capitalization of $117.41 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ANET. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their target price on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

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.