Mayflower Financial Advisors LLC Takes Position in Arista Networks, Inc. (NYSE:ANET)

Mayflower Financial Advisors LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANETFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,194 shares of the technology company’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Purus Wealth Management LLC increased its stake in shares of Arista Networks by 0.5% in the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after acquiring an additional 43 shares during the last quarter. Congress Park Capital LLC increased its stake in shares of Arista Networks by 0.6% in the 4th quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock valued at $1,823,000 after acquiring an additional 43 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Arista Networks by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,318 shares of the technology company’s stock valued at $426,000 after acquiring an additional 50 shares during the last quarter. Huntington National Bank grew its position in shares of Arista Networks by 6.2% in the 3rd quarter. Huntington National Bank now owns 910 shares of the technology company’s stock valued at $167,000 after purchasing an additional 53 shares during the period. Finally, Hohimer Wealth Management LLC grew its position in shares of Arista Networks by 0.9% in the 3rd quarter. Hohimer Wealth Management LLC now owns 6,657 shares of the technology company’s stock valued at $1,224,000 after purchasing an additional 58 shares during the period. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 3.4 %

NYSE ANET opened at $299.75 on Tuesday. The company has a market cap of $93.71 billion, a PE ratio of 45.62, a PEG ratio of 2.50 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The stock has a 50 day moving average of $276.42 and a 200-day moving average of $235.09.

Arista Networks (NYSE:ANETGet Free Report) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, sell-side analysts predict that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

ANET has been the subject of several research analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Citigroup boosted their price objective on Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Wells Fargo & Company boosted their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley upped their price target on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

View Our Latest Analysis on ANET

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 186 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the sale, the director now owns 2,678 shares in the company, valued at approximately $700,055.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Yvonne Wassenaar sold 186 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the sale, the director now owns 2,678 shares in the company, valued at approximately $700,055.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $249.00, for a total value of $4,980,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $807,756. The disclosure for this sale can be found here. In the last quarter, insiders have sold 305,628 shares of company stock worth $85,753,347. Company insiders own 18.99% of the company’s stock.

About Arista Networks

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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