Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Altman Advisors Inc.

Altman Advisors Inc. raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 292.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,010 shares of the technology company’s stock after purchasing an additional 17,148 shares during the period. Arista Networks accounts for 1.0% of Altman Advisors Inc.’s portfolio, making the stock its 27th largest position. Altman Advisors Inc.’s holdings in Arista Networks were worth $2,543,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Anchor Investment Management LLC increased its stake in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the period. Caitlin John LLC raised its stake in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. New Millennium Group LLC boosted 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 period. Finally, Cranbrook Wealth Management LLC grew its position 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 last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.50.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,031 shares of company stock valued at $39,364,943. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Down 0.2 %

Arista Networks stock opened at $72.50 on Friday. The company has a 50 day moving average of $88.74 and a 200-day moving average of $100.12. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The stock has a market capitalization of $91.43 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $1.90 billion. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS 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.