Trilogy Capital Inc. Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Trilogy Capital Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 371.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,546 shares of the technology company’s stock after acquiring an additional 17,767 shares during the period. Trilogy Capital Inc.’s holdings in Arista Networks were worth $2,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC raised its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. New Millennium Group LLC raised its holdings in shares of 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 acquiring an additional 195 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares during the last quarter. Finally, Costello Asset Management INC boosted its stake in Arista Networks by 300.0% during the 4th quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock worth $33,000 after purchasing an additional 225 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks 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 transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock worth $28,538,497 in the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Up 2.8 %

ANET stock opened at $115.43 on Thursday. The company has a fifty day simple moving average of $112.28 and a 200 day simple moving average of $99.36. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market cap of $145.41 billion, a PE ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. As a group, analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Barclays dropped their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities boosted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

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.