Simplicity Wealth LLC Acquires 2,254 Shares of Arista Networks, Inc. (NYSE:ANET)

Simplicity Wealth LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 368.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,865 shares of the technology company’s stock after acquiring an additional 2,254 shares during the quarter. Simplicity Wealth LLC’s holdings in Arista Networks were worth $317,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Stock Yards Bank & Trust Co. purchased a new stake in Arista Networks in the fourth quarter worth $242,000. GHE LLC increased its position in Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after buying an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its position in shares of Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new position in shares of Arista Networks in the fourth quarter valued at $630,000. Finally, Silver Oak Securities Incorporated grew its position in shares of 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 in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Citigroup boosted their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given 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 an average target price of $114.00.

Arista Networks Stock Down 7.0 %

Shares of ANET stock opened at $77.53 on Tuesday. The business has a 50-day moving average price of $108.24 and a two-hundred day moving average price of $102.10. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The firm has a market cap of $97.77 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) 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 firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company’s stock.

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.