Lindbrook Capital LLC Boosts Position in Arista Networks, Inc. (NYSE:ANET)

Lindbrook Capital LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 301.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,945 shares of the technology company’s stock after purchasing an additional 11,225 shares during the quarter. Lindbrook Capital LLC’s holdings in Arista Networks were worth $1,652,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. PFG Private Wealth Management LLC raised its holdings in shares of Arista Networks by 279.4% in the fourth quarter. PFG Private Wealth Management LLC now owns 4,215 shares of the technology company’s stock worth $466,000 after acquiring an additional 3,104 shares during the last quarter. Inceptionr LLC acquired a new position in shares of Arista Networks in the fourth quarter worth $232,000. First Business Financial Services Inc. raised its holdings in shares of Arista Networks by 318.1% in the fourth quarter. First Business Financial Services Inc. now owns 59,415 shares of the technology company’s stock worth $6,567,000 after acquiring an additional 45,204 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Dana Investment Advisors Inc. now owns 12,360 shares of the technology company’s stock worth $1,366,000 after acquiring an additional 9,270 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Arista Networks by 314.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,091 shares of the technology company’s stock worth $231,000 after acquiring an additional 1,587 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of analyst reports. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $112.00 to $115.00 in a report on Wednesday. The Goldman Sachs Group upped their target price on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $114.00.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John F. Mccool sold 288 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders sold 491,289 shares of company stock valued at $51,018,617 over the last quarter. Company insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 2.7 %

ANET stock opened at $87.83 on Thursday. The stock has a 50-day moving average price of $110.13 and a two-hundred day moving average price of $102.14. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The company has a market cap of $110.76 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

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

Arista Networks Company 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.