Parcion Private Wealth LLC Purchases 3,858 Shares of Arista Networks, Inc. (NYSE:ANET)

Parcion Private Wealth LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,144 shares of the technology company’s stock after buying an additional 3,858 shares during the period. Parcion Private Wealth LLC’s holdings in Arista Networks were worth $569,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Morningstar Investment Management LLC increased its holdings in Arista Networks by 300.0% during the 4th quarter. Morningstar Investment Management LLC now owns 2,152 shares of the technology company’s stock worth $238,000 after purchasing an additional 1,614 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in Arista Networks by 456.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 15,512 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 12,725 shares in the last quarter. Meitav Investment House Ltd. bought a new position in Arista Networks during the 4th quarter worth about $939,000. Handelsbanken Fonder AB increased its holdings in Arista Networks by 277.7% during the 4th quarter. Handelsbanken Fonder AB now owns 645,811 shares of the technology company’s stock worth $71,381,000 after purchasing an additional 474,804 shares in the last quarter. Finally, Wealth Alliance increased its holdings in Arista Networks by 292.0% during the 4th quarter. Wealth Alliance now owns 42,492 shares of the technology company’s stock worth $4,697,000 after purchasing an additional 31,652 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, 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 value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,944 shares of company stock valued at $30,214,186 over the last three months. 3.54% of the stock is owned by insiders.

Arista Networks Trading Down 6.5 %

Shares of ANET opened at $103.82 on Thursday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The firm’s 50 day moving average is $114.08 and its 200-day moving average is $101.54. The stock has a market capitalization of $130.79 billion, a PE ratio of 49.91, a P/E/G ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced 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. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Equities research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ANET shares. UBS Group increased their target price on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley increased their price objective 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. Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target 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.