Counterpoint Mutual Funds LLC Buys New Shares in Arista Networks, Inc. (NYSE:ANET)

Counterpoint Mutual Funds LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,419 shares of the technology company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ANET. Caitlin John LLC lifted its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Arista Networks by 335.1% during the fourth 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 in the last quarter. Cranbrook Wealth Management LLC lifted its position in Arista Networks by 300.0% during the fourth 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 in the last quarter. Trust Co. of Vermont lifted its position in Arista Networks by 300.0% during the fourth 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 in the last quarter. Finally, New Millennium Group LLC lifted its position in Arista Networks by 300.0% during the fourth 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 in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’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 value of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last ninety days. 3.54% of the stock is owned by insiders.

Analysts Set New Price Targets

ANET has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup raised their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, Rosenblatt Securities reissued a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Price Performance

Shares of NYSE ANET opened at $83.96 on Wednesday. The business’s 50 day moving average is $104.44 and its two-hundred day moving average is $101.89. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The stock has a market capitalization of $105.88 billion, a P/E ratio of 37.82, a PEG ratio of 3.10 and a beta of 1.08.

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