Optimum Investment Advisors Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Optimum Investment Advisors grew its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 400 shares of the technology company’s stock after acquiring an additional 300 shares during the period. Optimum Investment Advisors’ holdings in Arista Networks were worth $44,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fortis Capital Management LLC raised its stake in shares of Arista Networks by 391.3% in the 4th quarter. Fortis Capital Management LLC now owns 55,110 shares of the technology company’s stock valued at $6,091,000 after acquiring an additional 43,892 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Arista Networks in the 4th quarter valued at approximately $54,381,000. Knights of Columbus Asset Advisors LLC raised its stake in shares of Arista Networks by 349.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 35,724 shares of the technology company’s stock valued at $3,949,000 after acquiring an additional 27,770 shares during the period. AXQ Capital LP raised its stake in shares of Arista Networks by 135.9% in the 4th quarter. AXQ Capital LP now owns 8,006 shares of the technology company’s stock valued at $885,000 after acquiring an additional 4,612 shares during the period. Finally, Marietta Investment Partners LLC raised its stake in shares of Arista Networks by 299.3% in the 4th quarter. Marietta Investment Partners LLC now owns 112,964 shares of the technology company’s stock valued at $12,486,000 after acquiring an additional 84,671 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ANET. Morgan Stanley boosted their price target 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. Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Trading Up 0.3 %

Shares of Arista Networks stock opened at $83.26 on Monday. The company has a fifty day simple moving average of $102.53 and a 200-day simple moving average of $101.89. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The stock has a market cap of $104.99 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results 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. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The transaction 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 company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. Corporate insiders own 3.54% of the company’s stock.

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.