Paloma Partners Management Co Makes New $3.36 Million Investment in Arista Networks, Inc. (NYSE:ANET)

Paloma Partners Management Co purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,400 shares of the technology company’s stock, valued at approximately $3,360,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitlin John LLC raised its holdings in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ANET. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup dropped their target price on shares of Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities upgraded shares of Arista Networks from a “sell” rating to a “neutral” rating and set a $85.00 price target on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $106.43.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $78.33 on Tuesday. The firm has a market cap of $98.35 billion, a P/E ratio of 35.28, 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 firm’s 50-day simple moving average is $80.06 and its 200-day simple moving average is $98.13.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,355 shares of company stock worth $39,446,799. Insiders own 3.54% of the company’s stock.

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.