Proficio Capital Partners LLC Has $56.97 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Proficio Capital Partners LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 81,065.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 515,401 shares of the technology company’s stock after buying an additional 514,766 shares during the period. Proficio Capital Partners LLC’s holdings in Arista Networks were worth $56,967,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ANET. Caitlin John LLC boosted its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont raised its position in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 5.1 %

Shares of Arista Networks stock opened at $91.50 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The business has a fifty day simple moving average of $112.19 and a 200 day simple moving average of $102.02. The stock has a market cap of $115.40 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ANET shares. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Barclays lifted their price objective on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group boosted their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Insider Buying and Selling at Arista Networks

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 stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 416,008 shares of company stock valued at $44,854,958. Company insiders own 3.54% of the company’s stock.

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.