Arista Networks, Inc. (NYSE:ANET) is Clifford Swan Investment Counsel LLC’s 10th Largest Position

Clifford Swan Investment Counsel LLC lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 189,979 shares of the technology company’s stock after selling 3,219 shares during the quarter. Arista Networks makes up about 1.7% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 10th biggest position. Clifford Swan Investment Counsel LLC’s holdings in Arista Networks were worth $44,742,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. AXQ Capital LP acquired a new stake in Arista Networks during the third quarter worth approximately $791,000. Advisor Resource Council grew its position in shares of Arista Networks by 507.9% in the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after purchasing an additional 5,866 shares during the period. Bleakley Financial Group LLC increased its stake in Arista Networks by 4.6% in the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after purchasing an additional 194 shares during the last quarter. WCM Investment Management LLC lifted its position in Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares during the period. Finally, abrdn plc boosted its stake in Arista Networks by 62.7% in the 4th quarter. abrdn plc now owns 113,851 shares of the technology company’s stock worth $26,813,000 after buying an additional 43,889 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANET. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Monday, January 8th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Wells Fargo & Company upped 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, The Goldman Sachs Group boosted their price target on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $285.53.

Arista Networks Trading Up 4.8 %

NYSE:ANET traded up $12.54 during trading hours on Friday, hitting $274.40. The stock had a trading volume of 2,883,651 shares, compared to its average volume of 2,426,995. The company has a market cap of $85.79 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. The business has a 50 day simple moving average of $279.07 and a two-hundred day simple moving average of $250.02. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business earned $1.25 EPS. The business’s revenue was up 20.8% on a year-over-year basis. Research analysts expect that Arista Networks, Inc. will post 6.74 EPS for the current fiscal year.

Insider Activity

In other Arista Networks news, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. Insiders sold 335,974 shares of company stock worth $96,252,685 over the last ninety days. Corporate insiders own 18.99% of the company’s stock.

About Arista Networks

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.