Mindset Wealth Management LLC Purchases 3,716 Shares of Arista Networks, Inc. (NYSE:ANET)

Mindset Wealth Management LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 292.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,986 shares of the technology company’s stock after purchasing an additional 3,716 shares during the quarter. Mindset Wealth Management LLC’s holdings in Arista Networks were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Oxford Financial Group LTD. LLC raised its stake in shares of Arista Networks by 313.0% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 4,014 shares of the technology company’s stock worth $444,000 after purchasing an additional 3,042 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its stake in shares of Arista Networks by 300.0% in the fourth quarter. Adams Diversified Equity Fund Inc. now owns 246,764 shares of the technology company’s stock worth $27,275,000 after purchasing an additional 185,073 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Arista Networks by 236.2% in the fourth quarter. TD Private Client Wealth LLC now owns 18,246 shares of the technology company’s stock worth $2,017,000 after purchasing an additional 12,819 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Arista Networks in the fourth quarter worth $559,000. Finally, Independent Solutions Wealth Management LLC raised its stake in shares of Arista Networks by 294.2% in the fourth quarter. Independent Solutions Wealth Management LLC now owns 30,935 shares of the technology company’s stock worth $3,419,000 after purchasing an additional 23,087 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ANET. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. One 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’s stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Price Performance

Shares of ANET stock opened at $82.85 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock’s 50 day simple moving average is $103.15 and its two-hundred day simple moving average is $101.64. The company has a market cap of $104.48 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value 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 represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last ninety days. Company insiders own 3.54% of the company’s stock.

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.