Grant Private Wealth Management Inc Takes $673,000 Position in Arista Networks, Inc. $ANET

Grant Private Wealth Management Inc bought a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,619 shares of the technology company’s stock, valued at approximately $673,000.

A number of other institutional investors have also bought and sold shares of ANET. Carolina Wealth Advisors LLC purchased a new position in shares of Arista Networks in the third quarter valued at about $248,000. Sawyer & Company Inc bought a new stake in Arista Networks during the 3rd quarter valued at approximately $4,403,000. Nova Wealth Management Inc. raised its stake in Arista Networks by 215.7% during the 3rd quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock valued at $50,000 after purchasing an additional 233 shares during the period. Destiny Wealth Partners LLC purchased a new position in Arista Networks in the 3rd quarter worth approximately $204,000. Finally, Fragasso Financial Advisors Inc boosted its stake in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 0.2%

Shares of NYSE ANET opened at $126.17 on Wednesday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm’s 50-day moving average price is $138.11 and its 200-day moving average price is $127.48. The stock has a market capitalization of $158.88 billion, a price-to-earnings ratio of 47.97, a P/E/G ratio of 2.41 and a beta of 1.41.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $2.40 earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,668,843.36. This represents a 69.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 218,464 shares of company stock worth $30,309,988. 3.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Wolfe Research increased their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Barclays restated an “overweight” rating and set a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Finally, Weiss Ratings downgraded Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $164.31.

Arista Networks 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.