Spectrum Wealth Counsel LLC Acquires 36,404 Shares of Arista Networks, Inc. (NYSE:ANET)

Spectrum Wealth Counsel LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 302.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,459 shares of the technology company’s stock after acquiring an additional 36,404 shares during the period. Spectrum Wealth Counsel LLC’s holdings in Arista Networks were worth $5,356,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ANET. Zions Bancorporation N.A. boosted its holdings in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the last quarter. Intellectus Partners LLC lifted its stake in Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares in the last quarter. Altman Advisors Inc. lifted its stake in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares in the last quarter. HM Payson & Co. lifted its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its stake in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ANET shares. Wells Fargo & Company raised their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. UBS Group lifted their price target on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Barclays lifted their price target on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Citigroup lifted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve 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 a consensus price target of $113.79.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 433,441 shares of company stock valued at $46,538,462 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $93.10 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The stock has a market cap of $117.41 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The firm has a fifty day moving average price of $111.80 and a 200 day moving average price of $102.08.

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