Weaver Capital Management LLC Grows Stake in Arista Networks, Inc. (NYSE:ANET)

Weaver Capital Management LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 305.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,287 shares of the technology company’s stock after buying an additional 16,033 shares during the quarter. Weaver Capital Management LLC’s holdings in Arista Networks were worth $2,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ANET. GW Henssler & Associates Ltd. boosted its position in Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 2,219 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in Arista Networks by 69.8% during the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after purchasing an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC purchased a new position in Arista Networks in the third quarter valued at about $2,318,000. Greenleaf Trust raised its holdings in Arista Networks by 20.1% in the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock worth $5,076,000 after purchasing an additional 2,216 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in shares of Arista Networks by 10.0% during the third quarter. Forsta AP Fonden now owns 72,800 shares of the technology company’s stock valued at $27,942,000 after buying an additional 6,600 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ANET shares. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Barclays decreased their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group boosted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was 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. Over the last three months, insiders have sold 255,832 shares of company stock valued at $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $115.11 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market capitalization of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50-day moving average is $112.58 and its two-hundred day moving average is $99.48.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company earned $0.41 EPS. The business’s revenue was up 20.0% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

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.