Arista Networks, Inc. (NYSE:ANET) Shares Bought by Alta Advisers Ltd

Alta Advisers Ltd increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 391.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,439 shares of the technology company’s stock after purchasing an additional 2,739 shares during the period. Alta Advisers Ltd’s holdings in Arista Networks were worth $380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Morse Asset Management Inc purchased a new stake in shares of Arista Networks during the 3rd quarter worth approximately $123,000. Virtu Financial LLC acquired a new stake in Arista Networks in the 3rd quarter valued at about $1,752,000. World Investment Advisors LLC acquired a new position in Arista Networks during the third quarter worth about $401,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $2,222,000. Finally, Tidal Investments LLC lifted its stake in Arista Networks by 5.6% in the 3rd quarter. Tidal Investments LLC now owns 37,383 shares of the technology company’s stock valued at $14,348,000 after buying an additional 1,998 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ANET shares. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. decreased their target price on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.07.

Arista Networks Stock Performance

Arista Networks stock opened at $67.68 on Tuesday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The stock’s 50 day moving average price is $83.39 and its 200 day moving average price is $99.08. The firm has a market capitalization of $85.35 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released 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. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now directly owns 139,784 shares in the company, valued at $10,840,249.20. This represents a 5.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 410,863 shares of company stock worth $39,344,612. 3.54% of the stock is currently owned by corporate insiders.

About Arista Networks

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.