Norris Perne & French LLP MI Has $5.57 Million Position in Arista Networks, Inc. $ANET

Norris Perne & French LLP MI reduced its position in shares of Arista Networks, Inc. (NYSE:ANET) by 33.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,499 shares of the technology company’s stock after selling 21,452 shares during the quarter. Norris Perne & French LLP MI’s holdings in Arista Networks were worth $5,569,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC increased its stake in shares of Arista Networks by 37.9% in the fourth quarter. Transcend Capital Advisors LLC now owns 13,885 shares of the technology company’s stock worth $1,819,000 after acquiring an additional 3,814 shares during the last quarter. HBW Advisory Services LLC increased its stake in shares of Arista Networks by 17.5% in the fourth quarter. HBW Advisory Services LLC now owns 6,579 shares of the technology company’s stock worth $862,000 after acquiring an additional 980 shares during the last quarter. Watershed Private Wealth LLC increased its stake in shares of Arista Networks by 2.9% in the fourth quarter. Watershed Private Wealth LLC now owns 3,365 shares of the technology company’s stock worth $441,000 after acquiring an additional 96 shares during the last quarter. FSM Wealth Advisors LLC increased its stake in shares of Arista Networks by 11.2% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,362 shares of the technology company’s stock worth $310,000 after acquiring an additional 237 shares during the last quarter. Finally, James J. Burns & Company LLC increased its stake in shares of Arista Networks by 2.1% in the fourth quarter. James J. Burns & Company LLC now owns 4,737 shares of the technology company’s stock worth $621,000 after acquiring an additional 97 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Arista Networks stock opened at $151.93 on Tuesday. The company has a market capitalization of $190.90 billion, a price-to-earnings ratio of 55.05, a PEG ratio of 2.60 and a beta of 1.48. Arista Networks, Inc. has a one year low of $66.59 and a one year high of $164.94. The company’s fifty day moving average price is $134.24 and its two-hundred day moving average price is $135.87.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,740,600.64. This represents a 71.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares in the company, valued at $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 199,632 shares of company stock valued at $26,873,604 over the last three months. 3.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Rosenblatt Securities raised shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $165.00 to $180.00 in a research note on Tuesday, April 7th. Wells Fargo & Company upped their price target on shares of Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. UBS Group set a $200.00 price target on shares of Arista Networks in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Friday, March 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.44.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.