Ghe LLC Has $3.14 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Ghe LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 319.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,368 shares of the technology company’s stock after purchasing an additional 21,597 shares during the quarter. Arista Networks makes up about 1.2% of Ghe LLC’s portfolio, making the stock its 17th largest holding. Ghe LLC’s holdings in Arista Networks were worth $3,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ANET. Foundations Investment Advisors LLC lifted its holdings in shares of Arista Networks by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after purchasing an additional 31 shares during the period. Private Advisor Group LLC lifted its holdings in Arista Networks by 14.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,868 shares of the technology company’s stock worth $5,706,000 after buying an additional 1,867 shares during the period. Ballentine Partners LLC grew its position in shares of Arista Networks by 5.4% in the 3rd quarter. Ballentine Partners LLC now owns 2,543 shares of the technology company’s stock valued at $976,000 after buying an additional 130 shares during the last quarter. Highland Capital Management LLC bought a new position in shares of Arista Networks during the third quarter worth about $2,180,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Arista Networks by 0.7% during the third quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the technology company’s stock worth $5,565,000 after acquiring an additional 100 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 80,000 shares of Arista Networks stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock valued at $30,225,623 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ANET. UBS Group boosted their price target on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group lifted their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued 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 $113.79.

Arista Networks Stock Performance

ANET stock opened at $98.31 on Monday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The business has a 50-day simple moving average of $113.66 and a two-hundred day simple moving average of $102.01. The company has a market capitalization of $123.97 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.19 earnings per share for the current fiscal year.

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.