Clifford Swan Investment Counsel LLC Acquires 456,148 Shares of Arista Networks, Inc. (NYSE:ANET)

Clifford Swan Investment Counsel LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 289.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,781 shares of the technology company’s stock after buying an additional 456,148 shares during the period. Arista Networks comprises 2.4% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 7th largest holding. Clifford Swan Investment Counsel LLC’s holdings in Arista Networks were worth $67,841,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ANET. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks during the fourth quarter valued at $242,000. GHE LLC lifted its holdings in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC lifted its holdings in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 7,466 shares during the period. Silver Oak Securities Incorporated lifted its holdings in shares of Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after acquiring an additional 14,843 shares during the period. Finally, Proactive Wealth Strategies LLC lifted its holdings in shares of Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after acquiring an additional 4,865 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.7 %

Shares of NYSE:ANET opened at $93.10 on Friday. The stock has a market capitalization of $117.41 billion, a P/E ratio of 41.94, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The business has a 50-day moving average price of $111.80 and a two-hundred day moving average price of $102.19.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,441 shares of company stock worth $46,538,462. 3.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. Barclays lifted their price objective on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Citigroup lifted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group lifted their price target on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.