Gallacher Capital Management LLC Has $281,000 Position in Arista Networks, Inc. (NYSE:ANET)

Gallacher Capital Management LLC trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 51.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,195 shares of the technology company’s stock after selling 1,283 shares during the quarter. Gallacher Capital Management LLC’s holdings in Arista Networks were worth $281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Vanguard Group Inc. boosted its stake in Arista Networks by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after purchasing an additional 84,212 shares during the period. FMR LLC increased its stake in shares of Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Arista Networks by 0.5% in the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after acquiring an additional 16,081 shares during the last quarter. Northern Trust Corp lifted its holdings in Arista Networks by 5.0% during the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock worth $442,120,000 after buying an additional 114,978 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Arista Networks by 0.8% in the fourth quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock valued at $425,683,000 after acquiring an additional 14,627 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The disclosure for this sale can be found here. Insiders have sold 335,974 shares of company stock valued at $96,252,685 in the last three months. 3.54% of the stock is currently owned by insiders.

Arista Networks Trading Up 1.6 %

ANET stock traded up $4.42 during midday trading on Monday, hitting $278.82. The stock had a trading volume of 2,030,772 shares, compared to its average volume of 2,450,644. The firm has a market cap of $87.17 billion, a P/E ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13. The business has a fifty day moving average price of $279.07 and a two-hundred day moving average price of $250.02. Arista Networks, Inc. has a 1-year low of $133.42 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Arista Networks’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts anticipate that Arista Networks, Inc. will post 6.74 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Barclays raised their price target on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and raised their price target for the stock from $240.00 to $320.00 in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $285.53.

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.