QRG Capital Management Inc. Acquires 38,226 Shares of Arista Networks, Inc. (NYSE:ANET)

QRG Capital Management Inc. boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 51.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,315 shares of the technology company’s stock after acquiring an additional 38,226 shares during the period. QRG Capital Management Inc.’s holdings in Arista Networks were worth $12,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Zions Bancorporation N.A. raised its stake in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares during the period. Intellectus Partners LLC grew its holdings in Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares in the last quarter. Altman Advisors Inc. grew its holdings in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after buying an additional 28 shares in the last quarter. HM Payson & Co. grew its holdings in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its holdings in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after buying an additional 30 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Mccool sold 17,433 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.14, for a total value of $1,623,709.62. Following the completion of the transaction, the insider now owns 17,433 shares of the company’s stock, valued at $1,623,709.62. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 416,008 shares of company stock worth $44,854,958. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Down 5.1 %

Shares of ANET stock opened at $91.50 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The company has a market cap of $115.40 billion, a P/E ratio of 41.22, a P/E/G ratio of 3.10 and a beta of 1.09. The business has a fifty day simple moving average of $112.19 and a 200 day simple moving average of $102.02.

Arista Networks (NYSE:ANET) last announced 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. 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 during the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ANET has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Barclays upped their price objective on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Citigroup upped their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, UBS Group increased their target price on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

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.