Arista Networks, Inc. (NYSE:ANET) Holdings Lifted by Cumberland Partners Ltd

Cumberland Partners Ltd increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the technology company’s stock after buying an additional 250 shares during the quarter. Cumberland Partners Ltd’s holdings in Arista Networks were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ANET. International Assets Investment Management LLC grew its holdings in shares of Arista Networks by 6.7% during the third quarter. International Assets Investment Management LLC now owns 2,427 shares of the technology company’s stock valued at $441,000 after buying an additional 153 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Arista Networks by 7.5% in the third quarter. Arkadios Wealth Advisors now owns 1,474 shares of the technology company’s stock valued at $271,000 after purchasing an additional 103 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Arista Networks in the third quarter valued at about $204,000. DAVENPORT & Co LLC grew its stake in Arista Networks by 6.1% in the third quarter. DAVENPORT & Co LLC now owns 6,179 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 354 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Arista Networks by 74.7% in the third quarter. Exchange Traded Concepts LLC now owns 14,070 shares of the technology company’s stock worth $2,588,000 after buying an additional 6,014 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 1.8 %

Shares of NYSE ANET traded up $4.53 during mid-day trading on Wednesday, hitting $255.71. The company had a trading volume of 1,973,097 shares, compared to its average volume of 2,460,179. The company has a market capitalization of $79.94 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The firm has a 50-day simple moving average of $279.29 and a two-hundred day simple moving average of $246.19. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. Sell-side analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 733 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $268.15, for a total transaction of $196,553.95. Following the completion of the sale, the chief executive officer now directly owns 74,031 shares in the company, valued at approximately $19,851,412.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Insiders sold 334,227 shares of company stock worth $95,828,875 in the last ninety days. 18.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ANET. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Wells Fargo & Company upped their price target on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Morgan Stanley upped their price objective on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. increased their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, KeyCorp increased their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

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.