Roberts Glore & Co. Inc. IL Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Roberts Glore & Co. Inc. IL raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 287.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,412 shares of the technology company’s stock after buying an additional 24,037 shares during the quarter. Arista Networks comprises about 1.1% of Roberts Glore & Co. Inc. IL’s investment portfolio, making the stock its 20th largest holding. Roberts Glore & Co. Inc. IL’s holdings in Arista Networks were worth $3,582,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ANET. Swedbank AB lifted its position in shares of Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after buying an additional 5,034,022 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Arista Networks by 320.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after purchasing an additional 4,919,882 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares during the last quarter. Finally, Amundi raised its position in shares of Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after purchasing an additional 4,201,973 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,289 shares of company stock worth $42,355,417. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 1.2 %

NYSE ANET opened at $83.31 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The business’s fifty day simple moving average is $108.92 and its 200-day simple moving average is $102.08. The firm has a market cap of $105.07 billion, a PE ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping 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 business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ANET. Wells Fargo & Company increased their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $112.00 to $115.00 in a research report on Wednesday. Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Barclays increased their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.