47,191 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Leuthold Group LLC

Leuthold Group LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,191 shares of the technology company’s stock, valued at approximately $5,216,000.

A number of other large investors also recently bought and sold shares of the stock. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks during the 4th quarter worth about $242,000. Silver Oak Securities Incorporated raised its position in Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares during the period. Proactive Wealth Strategies LLC lifted its stake in shares of Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after purchasing an additional 4,865 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in shares of Arista Networks by 292.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock worth $66,599,000 after purchasing an additional 449,088 shares in the last quarter. Finally, 5T Wealth LLC purchased a new stake in shares of Arista Networks in the fourth quarter worth about $1,046,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Mccool sold 288 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock valued at $30,225,623 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. UBS Group raised their price target on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday. Evercore ISI lifted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Wells Fargo & Company upped 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. Finally, The Goldman Sachs Group increased their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Down 4.9 %

ANET opened at $98.31 on Friday. The firm has a market cap of $123.84 billion, a PE ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09. The business has a fifty day simple moving average of $113.94 and a 200-day simple moving average of $101.57. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

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.