Knuff & Co LLC Buys Shares of 1,450 Arista Networks, Inc. (NYSE:ANET)

Knuff & Co LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,450 shares of the technology company’s stock, valued at approximately $160,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new position in shares of Arista Networks in the third quarter worth about $297,000. Atria Investments Inc boosted its holdings in Arista Networks by 15.0% in the third quarter. Atria Investments Inc now owns 16,961 shares of the technology company’s stock worth $6,510,000 after purchasing an additional 2,218 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Arista Networks by 18.3% in the third quarter. Venturi Wealth Management LLC now owns 3,400 shares of the technology company’s stock valued at $1,305,000 after purchasing an additional 527 shares during the period. Versor Investments LP grew its position in shares of Arista Networks by 58.6% in the third quarter. Versor Investments LP now owns 3,331 shares of the technology company’s stock valued at $1,279,000 after purchasing an additional 1,231 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its stake in Arista Networks by 19.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,917 shares of the technology company’s stock valued at $1,887,000 after purchasing an additional 794 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Up 1.9 %

Arista Networks stock opened at $79.07 on Wednesday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The firm has a market capitalization of $99.72 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 3.10 and a beta of 1.08. The firm has a 50 day moving average of $107.62 and a 200 day moving average of $102.03.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 40.72% and a return on equity of 29.91%. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of analyst reports. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.