VCI Wealth Management LLC Buys Shares of 1,045 Arista Networks, Inc. (NYSE:ANET)

VCI Wealth Management LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,045 shares of the technology company’s stock, valued at approximately $246,000.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in Arista Networks in the third quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new stake in shares of Arista Networks during the 3rd quarter valued at $29,000. BluePath Capital Management LLC bought a new stake in Arista Networks in the 3rd quarter valued at $33,000. NBC Securities Inc. bought a new stake in Arista Networks in the 3rd quarter valued at $33,000. Finally, Atticus Wealth Management LLC grew its stake in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ANET. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 8th. Rosenblatt Securities restated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. Wells Fargo & Company increased their target price on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Down 0.1 %

NYSE ANET traded down $0.19 on Friday, reaching $264.57. The company had a trading volume of 2,521,273 shares, compared to its average volume of 2,483,228. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The stock’s 50 day moving average is $279.04 and its 200-day moving average is $246.38. The stock has a market cap of $82.71 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 2.18 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. As a group, analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current year.

Insider Activity

In other news, CEO Jayshree Ullal sold 980 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the transaction, the chief executive officer now directly owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 980 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $268.29, for a total value of $262,924.20. Following the sale, the chief executive officer now owns 73,051 shares in the company, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 333,494 shares of company stock worth $95,632,321. Insiders own 18.99% of the company’s stock.

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.