Williamson Legacy Group LLC Purchases New Shares in Arista Networks, Inc. (NYSE:ANET)

Williamson Legacy Group LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 8,220 shares of the technology company’s stock, valued at approximately $909,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the period. Swedbank AB boosted its stake in Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after purchasing an additional 4,579,622 shares during the last quarter. WCM Investment Management LLC boosted its stake in Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after purchasing an additional 4,512,166 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after purchasing an additional 236,151 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.7 %

Shares of ANET opened at $93.10 on Friday. The firm has a market cap of $117.41 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The company’s 50-day moving average price is $111.80 and its 200 day moving average price is $102.08.

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 the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Mccool sold 17,433 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $96.57, for a total transaction of $1,683,504.81. The disclosure for this sale can be found here. Insiders have sold 433,441 shares of company stock worth $46,538,462 over the last three months. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ANET. Morgan Stanley lifted their target price on shares of 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 lifted their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Barclays lifted their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group boosted their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

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.