Westover Capital Advisors LLC Takes Position in Arista Networks, Inc. (NYSE:ANET)

Westover Capital Advisors LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,000 shares of the technology company’s stock, valued at approximately $236,000.

Several other institutional investors have also recently modified their holdings of ANET. FMR LLC lifted its holdings in shares of Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the period. Schroder Investment Management Group increased its holdings in Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after buying an additional 1,025,815 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Arista Networks by 25,188.0% during the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after buying an additional 611,312 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Arista Networks by 294.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock worth $175,604,000 after buying an additional 556,568 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Arista Networks by 122.1% during the third quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock worth $151,956,000 after purchasing an additional 454,146 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ANET shares. JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. The Goldman Sachs Group increased their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. KeyCorp upped their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Finally, Jefferies Financial Group raised Arista Networks from a “hold” rating to a “buy” rating and boosted their target price for the company from $240.00 to $320.00 in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $285.53.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John F. Mccool sold 416 shares of Arista Networks stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $105,888.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 1,044 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The disclosure for this sale can be found here. Insiders sold a total of 335,974 shares of company stock valued at $96,252,685 in the last quarter. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Trading Up 4.8 %

Shares of ANET traded up $12.52 during midday trading on Friday, hitting $274.38. The stock had a trading volume of 2,883,165 shares, compared to its average volume of 2,455,522. The business has a 50-day simple moving average of $278.94 and a two-hundred day simple moving average of $248.71. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The firm has a market cap of $86.05 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13.

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