Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 290.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,192 shares of the technology company’s stock after purchasing an additional 5,349 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Arista Networks were worth $795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stock Yards Bank & Trust Co. acquired a new stake in shares of Arista Networks during the fourth quarter worth about $242,000. GHE LLC raised its position in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC raised its position in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 7,466 shares in the last quarter. Silver Oak Securities Incorporated raised its position in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after acquiring an additional 14,843 shares in the last quarter. Finally, Proactive Wealth Strategies LLC raised its position in Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after acquiring an additional 4,865 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ANET shares. UBS Group lifted their price target on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Performance

NYSE ANET opened at $92.85 on Wednesday. The business has a fifty day moving average price of $112.78 and a 200 day moving average price of $102.13. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company has a market cap of $117.10 billion, a P/E ratio of 41.83, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating 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 firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was 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 approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,224 shares of company stock valued at $30,242,856. 3.54% of the stock is owned by insiders.

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.