Resonant Capital Advisors LLC Buys 3,274 Shares of Arista Networks, Inc. (NYSE:ANET)

Resonant Capital Advisors LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 342.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,230 shares of the technology company’s stock after acquiring an additional 3,274 shares during the period. Resonant Capital Advisors LLC’s holdings in Arista Networks were worth $468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. MidAtlantic Capital Management Inc. acquired a new position in shares of Arista Networks during the 3rd quarter worth about $44,000. HM Payson & Co. increased its position in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the period. True Wealth Design LLC lifted its holdings in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the last quarter. Anchor Investment Management LLC boosted its position in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the period. Finally, ORG Partners LLC grew its stake in shares of Arista Networks by 186.0% in the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after acquiring an additional 93 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Up 2.8 %

NYSE:ANET opened at $115.43 on Thursday. The firm has a market cap of $145.41 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company’s 50-day moving average price is $112.28 and its two-hundred day moving average price is $99.36.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $0.41 EPS. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Rosenblatt Securities boosted their price target on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group raised their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Company 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.