Probity Advisors Inc. Buys 8,122 Shares of Arista Networks, Inc. (NYSE:ANET)

Probity Advisors Inc. grew its stake in Arista Networks, Inc. (NYSE:ANETGet Rating) by 259.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,247 shares of the technology company’s stock after purchasing an additional 8,122 shares during the quarter. Probity Advisors Inc.’s holdings in Arista Networks were worth $1,617,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BerganKDV Wealth Management LLC raised its holdings in Arista Networks by 16.0% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 145 shares of the technology company’s stock worth $50,000 after purchasing an additional 20 shares in the last quarter. Huntington National Bank increased its stake in shares of Arista Networks by 300.0% in the 4th quarter. Huntington National Bank now owns 188 shares of the technology company’s stock worth $27,000 after acquiring an additional 141 shares in the last quarter. JJJ Advisors Inc. increased its stake in shares of Arista Networks by 300.0% in the 4th quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock worth $28,000 after acquiring an additional 147 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Arista Networks by 300.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the technology company’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Arista Networks by 316.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 208 shares of the technology company’s stock worth $30,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Several research analysts recently issued reports on the stock. Cowen increased their price target on shares of Arista Networks from $151.00 to $154.00 in a research note on Tuesday, May 3rd. Wells Fargo & Company raised shares of Arista Networks from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $142.00 to $160.00 in a research report on Thursday, March 10th. Barclays cut their price objective on shares of Arista Networks from $140.00 to $138.00 in a research report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating and set a $133.00 price objective on the stock. in a research report on Tuesday, April 19th. Finally, Vertical Research raised shares of Arista Networks from a “neutral” rating to a “buy” rating in a report on Thursday, January 27th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $153.61.

In other Arista Networks news, Director Ann Mather sold 1,668 shares of Arista Networks stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $113.40, for a total transaction of $189,151.20. Following the completion of the transaction, the director now directly owns 3,224 shares of the company’s stock, valued at $365,601.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock in a transaction on Monday, February 28th. The stock was sold at an average price of $121.73, for a total transaction of $12,173,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 653,695 shares of company stock worth $78,585,334. Company insiders own 22.01% of the company’s stock.

Shares of Arista Networks stock traded up $6.98 on Friday, hitting $108.65. 2,290,817 shares of the company traded hands, compared to its average volume of 1,990,758. The stock has a market capitalization of $33.49 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 2.05 and a beta of 1.28. Arista Networks, Inc. has a 52 week low of $79.63 and a 52 week high of $148.57. The business has a 50-day simple moving average of $124.38 and a 200 day simple moving average of $129.06.

Arista Networks (NYSE:ANETGet Rating) last released its quarterly earnings data on Monday, May 2nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. During the same quarter in the previous year, the company earned $0.57 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 3.18 earnings per share for the current year.

Arista Networks Profile (Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

Further Reading

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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