Forbes J M & Co. LLP Has $7.55 Million Position in Arista Networks, Inc. (NYSE:ANET)

Forbes J M & Co. LLP grew its position in Arista Networks, Inc. (NYSE:ANET) by 301.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,296 shares of the technology company’s stock after purchasing an additional 51,284 shares during the period. Forbes J M & Co. LLP’s holdings in Arista Networks were worth $7,549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its stake in Arista Networks by 12.5% during the 3rd quarter. CWM LLC now owns 17,931 shares of the technology company’s stock worth $6,882,000 after purchasing an additional 1,989 shares in the last quarter. Perpetual Ltd boosted its holdings in shares of Arista Networks by 25.4% in the third quarter. Perpetual Ltd now owns 5,703 shares of the technology company’s stock valued at $2,189,000 after buying an additional 1,156 shares during the period. Private Advisory Group LLC increased its position in shares of Arista Networks by 27.5% during the third quarter. Private Advisory Group LLC now owns 3,055 shares of the technology company’s stock worth $1,172,000 after acquiring an additional 658 shares in the last quarter. Clarius Group LLC raised its holdings in shares of Arista Networks by 13.4% during the third quarter. Clarius Group LLC now owns 1,343 shares of the technology company’s stock worth $514,000 after acquiring an additional 159 shares during the period. Finally, LVW Advisors LLC boosted its stake in Arista Networks by 6.0% in the 3rd quarter. LVW Advisors LLC now owns 730 shares of the technology company’s stock worth $280,000 after purchasing an additional 41 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ANET. UBS Group lifted their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the sale, the insider now directly owns 288 shares in the company, valued at $28,391.76. This represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,832 shares of company stock worth $28,538,497. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $118.52 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market cap of $149.31 billion, a price-to-earnings ratio of 56.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company has a fifty day moving average price of $112.87 and a two-hundred day moving average price of $99.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business earned $0.41 EPS. Arista Networks’s quarterly revenue was up 20.0% on a year-over-year basis. Research analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

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.