FourThought Financial Partners LLC Trims Holdings in Arista Networks, Inc. (NYSE:ANET)

FourThought Financial Partners LLC lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,311 shares of the technology company’s stock after selling 55 shares during the period. FourThought Financial Partners LLC’s holdings in Arista Networks were worth $544,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ANET. Rakuten Securities Inc. purchased a new position in shares of Arista Networks in the 4th quarter valued at about $35,000. Atticus Wealth Management LLC grew its holdings in Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Arista Networks in the 3rd quarter valued at approximately $28,000. Sandy Spring Bank raised its holdings in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter worth $29,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Wells Fargo & Company raised their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $285.53.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jayshree Ullal sold 22,000 shares of Arista Networks stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total value of $6,666,000.00. Following the transaction, the chief executive officer now owns 1,665,300 shares in the company, valued at $504,585,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 278 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $265.81, for a total value of $73,895.18. Following the sale, the director now owns 2,553 shares of the company’s stock, valued at $678,612.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 335,974 shares of company stock worth $96,252,685. 18.99% of the stock is owned by company insiders.

Arista Networks Stock Up 4.8 %

Shares of ANET traded up $12.54 during mid-day trading on Friday, reaching $274.40. 2,883,651 shares of the company’s stock were exchanged, compared to its average volume of 2,426,995. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The company has a 50-day simple moving average of $279.07 and a two-hundred day simple moving average of $250.02. The company has a market cap of $85.79 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.34 and a beta of 1.13.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 6.74 EPS 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.