Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 289.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 613,781 shares of the technology company’s stock after acquiring an additional 456,148 shares during the quarter. Arista Networks accounts for 2.4% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 7th biggest position. Clifford Swan Investment Counsel LLC’s holdings in Arista Networks were worth $67,841,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norden Group LLC bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $270,000. Smartleaf Asset Management LLC raised its stake in shares of Arista Networks by 332.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,524 shares of the technology company’s stock worth $1,062,000 after purchasing an additional 7,322 shares in the last quarter. Mitchell Capital Management Co. raised its stake in shares of Arista Networks by 293.5% during the 4th quarter. Mitchell Capital Management Co. now owns 104,724 shares of the technology company’s stock worth $11,575,000 after purchasing an additional 78,108 shares in the last quarter. Spectrum Wealth Counsel LLC raised its stake in shares of Arista Networks by 302.0% during the 4th quarter. Spectrum Wealth Counsel LLC now owns 48,459 shares of the technology company’s stock worth $5,356,000 after purchasing an additional 36,404 shares in the last quarter. Finally, Onefund LLC raised its stake in shares of Arista Networks by 302.7% during the 4th quarter. Onefund LLC now owns 2,714 shares of the technology company’s stock worth $300,000 after purchasing an additional 2,040 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. The Goldman Sachs Group upped 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, February 19th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays increased their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Rosenblatt Securities restated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Price Performance

Shares of NYSE ANET opened at $93.10 on Friday. The stock’s fifty day moving average price is $111.80 and its two-hundred day moving average price is $102.19. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The firm has a market cap of $117.41 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 3.10 and a beta of 1.09.

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

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the 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 sale, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 17,433 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $96.57, for a total value of $1,683,504.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 433,441 shares of company stock valued at $46,538,462. 3.54% of the stock is owned by corporate insiders.

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.