Centurion Wealth Management LLC Buys 2,149 Shares of Arista Networks, Inc. (NYSE:ANET)

Centurion Wealth Management LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 296.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,874 shares of the technology company’s stock after acquiring an additional 2,149 shares during the quarter. Centurion Wealth Management LLC’s holdings in Arista Networks were worth $318,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation N.A. raised its position 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 buying an additional 27 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Arista Networks by 4.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,421 shares of the technology company’s stock worth $1,697,000 after purchasing an additional 207 shares during the last quarter. Intellectus Partners LLC increased its position in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Arista Networks by 9.3% during the 3rd quarter. CIBC Asset Management Inc now owns 39,140 shares of the technology company’s stock worth $15,023,000 after purchasing an additional 3,322 shares during the last quarter. Finally, Valley Wealth Managers Inc. increased its position in shares of Arista Networks by 52.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 3,477 shares of the technology company’s stock worth $1,335,000 after purchasing an additional 1,190 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’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 transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the transaction, the director now directly owns 147,784 shares of the company’s stock, valued at approximately $13,157,209.52. The trade was a 5.14 % 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. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ANET. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Price Performance

ANET opened at $83.58 on Friday. The business has a fifty day simple moving average of $105.75 and a 200 day simple moving average of $101.82. The company has a market capitalization of $105.41 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

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, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.