Cobblestone Capital Advisors LLC NY Grows Stock Position in Arista Networks, Inc. (NYSE:ANET)

Cobblestone Capital Advisors LLC NY boosted its position in Arista Networks, Inc. (NYSE:ANET) by 306.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,268 shares of the technology company’s stock after purchasing an additional 1,710 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Arista Networks were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ANET. Zions Bancorporation N.A. increased its holdings in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares in the last quarter. Altman Advisors Inc. increased its stake in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares in the last quarter. HM Payson & Co. increased its stake in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its stake in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after buying an additional 30 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 17,433 shares of the business’s stock in a transaction on 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 sold 433,441 shares of company stock worth $46,538,462 in the last quarter. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $93.10 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm’s fifty day moving average price is $111.80 and its 200-day moving average price is $102.19. The stock 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 (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their target price on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks 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.