BluePointe Capital Management LLC Increases Position in Arista Networks, Inc. (NYSE:ANET)

BluePointe Capital Management LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 311.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,286 shares of the technology company’s stock after purchasing an additional 10,056 shares during the period. BluePointe Capital Management LLC’s holdings in Arista Networks were worth $1,469,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ANET. Quest Partners LLC lifted its position in shares of Arista Networks by 149.2% during the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock worth $1,112,000 after purchasing an additional 1,734 shares during the last quarter. Pathstone Holdings LLC grew its position in Arista Networks by 6.4% in the 3rd quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company’s stock valued at $9,863,000 after buying an additional 1,554 shares during the last quarter. Caprock Group LLC raised its position in Arista Networks by 24.8% during the 3rd quarter. Caprock Group LLC now owns 7,429 shares of the technology company’s stock worth $2,851,000 after buying an additional 1,475 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Arista Networks by 52.5% in the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after purchasing an additional 63 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Arista Networks by 4.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,348 shares of the technology company’s stock valued at $2,053,000 after buying an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup raised their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Insiders Place Their Bets

In related news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,001 shares of company stock worth $49,112,111. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $84.38 on Thursday. The firm has a fifty day moving average price of $103.81 and a two-hundred day moving average price of $101.77. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The firm has a market cap of $106.42 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its quarterly 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.