Tyche Wealth Partners LLC Makes New $362,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Tyche Wealth Partners LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, HoldingsChannel reports. The fund bought 3,277 shares of the technology company’s stock, valued at approximately $362,000.

A number of other hedge funds also recently made changes to their positions in the business. Cranbrook Wealth Management LLC increased its position in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. New Millennium Group LLC increased its holdings in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Westside Investment Management Inc. raised its stake in Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after acquiring an additional 253 shares during the period. Finally, Costello Asset Management INC lifted its holdings in Arista Networks by 300.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after purchasing an additional 225 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now owns 288 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $115.11 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market cap of $145.01 billion, a PE ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. The company has a 50 day simple moving average of $112.58 and a two-hundred day simple moving average of $99.48.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ANET. Rosenblatt Securities lifted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays dropped their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $105.83.

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.