Arista Networks, Inc. (NYSE:ANET) Shares Bought by Harvest Investment Services LLC

Harvest Investment Services LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 632.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,438 shares of the technology company’s stock after buying an additional 21,964 shares during the period. Harvest Investment Services LLC’s holdings in Arista Networks were worth $2,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its position in Arista Networks by 395.4% during the fourth quarter. Hsbc Holdings PLC now owns 4,042,016 shares of the technology company’s stock worth $447,250,000 after buying an additional 3,226,090 shares in the last quarter. Fayez Sarofim & Co grew its position in shares of Arista Networks by 276.6% during the 4th quarter. Fayez Sarofim & Co now owns 3,216 shares of the technology company’s stock worth $355,000 after buying an additional 2,362 shares during the period. IHT Wealth Management LLC raised its holdings in Arista Networks by 118.3% during the 4th quarter. IHT Wealth Management LLC now owns 29,250 shares of the technology company’s stock worth $3,233,000 after buying an additional 15,851 shares during the period. Goldstream Capital Management Ltd lifted its position in shares of Arista Networks by 296.6% in the fourth quarter. Goldstream Capital Management Ltd now owns 46,500 shares of the technology company’s stock worth $5,140,000 after purchasing an additional 34,775 shares in the last quarter. Finally, J. Safra Sarasin Holding AG increased its holdings in Arista Networks by 176.7% during the fourth quarter. J. Safra Sarasin Holding AG now owns 221,999 shares of the technology company’s stock worth $24,538,000 after buying an additional 141,774 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the sale, the director now directly owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares in the company, valued at $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 three months, insiders sold 410,863 shares of company stock valued at $39,344,612. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup cut their price objective on shares of Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.07.

Arista Networks Price Performance

Shares of ANET stock opened at $67.68 on Tuesday. The stock has a 50 day simple moving average of $83.39 and a 200-day simple moving average of $99.08. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a market cap of $85.35 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share 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.