United Capital Financial Advisors LLC Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

United Capital Financial Advisors LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 318.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,091 shares of the technology company’s stock after acquiring an additional 22,902 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Arista Networks were worth $3,326,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL purchased a new stake in shares of Arista Networks during the fourth quarter worth about $206,000. Gabelli Funds LLC grew its holdings in Arista Networks by 270.6% during the 4th quarter. Gabelli Funds LLC now owns 101,000 shares of the technology company’s stock valued at $11,164,000 after buying an additional 73,750 shares in the last quarter. Jump Financial LLC grew its holdings in Arista Networks by 198.4% during the 4th quarter. Jump Financial LLC now owns 137,581 shares of the technology company’s stock valued at $15,207,000 after buying an additional 91,477 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Arista Networks by 300.0% during the fourth quarter. Anchor Investment Management LLC now owns 540 shares of the technology company’s stock valued at $60,000 after buying an additional 405 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of Arista Networks by 381.8% in the fourth quarter. Bridgewater Associates LP now owns 673,054 shares of the technology company’s stock worth $74,393,000 after buying an additional 533,366 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ANET shares. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Barclays reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $106.07.

Arista Networks Trading Down 1.1 %

NYSE:ANET opened at $71.11 on Friday. The company has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The stock has a fifty day simple moving average of $85.15 and a 200-day simple moving average of $99.44.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is currently owned by company insiders.

About Arista Networks

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.