Cassaday & Co Wealth Management LLC Has $554,000 Position in Arista Networks, Inc. (NYSE:ANET)

Cassaday & Co Wealth Management LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 320.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,016 shares of the technology company’s stock after acquiring an additional 3,822 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Arista Networks were worth $554,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitlin John LLC grew its position in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Cranbrook Wealth Management LLC grew its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont increased its position 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 worth $29,000 after purchasing an additional 198 shares in the last quarter. New Millennium Group LLC lifted its holdings in 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 during the last quarter. Finally, Westside Investment Management Inc. boosted its position in Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Down 4.9 %

Shares of NYSE ANET opened at $98.31 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm’s 50-day moving average is $113.94 and its 200-day moving average is $101.57. The firm has a market capitalization of $123.84 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ANET. Barclays raised their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group boosted their price objective on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, 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 SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,056 shares of company stock worth $30,225,623 in the last three months. 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.