Smith Moore & CO. Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Smith Moore & CO. boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,932 shares of the technology company’s stock after buying an additional 2,199 shares during the period. Smith Moore & CO.’s holdings in Arista Networks were worth $324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rosenblum Silverman Sutton S F Inc. CA grew its position in shares of Arista Networks by 290.5% during the fourth quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 3,300 shares of the technology company’s stock worth $365,000 after purchasing an additional 2,455 shares in the last quarter. Prudential PLC boosted its stake in Arista Networks by 370.5% in the 4th quarter. Prudential PLC now owns 173,979 shares of the technology company’s stock worth $19,230,000 after purchasing an additional 137,005 shares during the period. PAX Financial Group LLC grew its holdings in Arista Networks by 300.3% during the 4th quarter. PAX Financial Group LLC now owns 44,767 shares of the technology company’s stock valued at $4,948,000 after buying an additional 33,584 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in shares of Arista Networks by 297.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 16,220 shares of the technology company’s stock valued at $1,792,000 after buying an additional 12,140 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Arista Networks by 297.2% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,291 shares of the technology company’s stock valued at $143,000 after buying an additional 966 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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 lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,001 shares of company stock worth $48,840,431. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 9.8 %

ANET stock opened at $64.28 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The firm has a market cap of $81.07 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.10 and a beta of 1.30. The business’s fifty day simple moving average is $94.01 and its two-hundred day simple moving average is $101.29.

Arista Networks (NYSE:ANET) last posted its quarterly 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. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Research analysts expect that Arista Networks, Inc. will post 2.2 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.