Concentrum Wealth Management Acquires 8,078 Shares of Arista Networks, Inc. (NYSE:ANET)

Concentrum Wealth Management boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 302.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,752 shares of the technology company’s stock after purchasing an additional 8,078 shares during the quarter. Concentrum Wealth Management’s holdings in Arista Networks were worth $1,188,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in Arista Networks by 193.2% during the 4th quarter. Cerity Partners LLC now owns 98,094 shares of the technology company’s stock valued at $10,397,000 after buying an additional 64,640 shares during the period. Sierra Summit Advisors LLC bought a new stake in Arista Networks during the 4th quarter valued at $9,000,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 480 shares of the technology company’s stock worth $53,000 after buying an additional 360 shares during the period. Trek Financial LLC grew its position in shares of Arista Networks by 309.7% during the 4th quarter. Trek Financial LLC now owns 2,458 shares of the technology company’s stock worth $272,000 after buying an additional 1,858 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after buying an additional 44,269,572 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research reports. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Barclays reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. One 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at approximately $10,840,249.20. This represents a 5.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,001 shares of company stock valued at $39,362,831 over the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $64.28 on Monday. The stock has a 50-day moving average of $94.01 and a two-hundred day moving average of $101.37. The stock has a market cap of $81.07 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a one year low of $57.80 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.90 billion. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.