F M Investments LLC Sells 40 Shares of Arista Networks, Inc. (NYSE:ANET)

F M Investments LLC lowered its holdings in Arista Networks, Inc. (NYSE:ANET) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,405 shares of the technology company’s stock after selling 40 shares during the quarter. F M Investments LLC’s holdings in Arista Networks were worth $331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ANET. AXQ Capital LP purchased a new position in Arista Networks during the third quarter valued at $791,000. Advisor Resource Council raised its stake in Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after buying an additional 5,866 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after buying an additional 194 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after purchasing an additional 16,081 shares in the last quarter. Finally, Cambridge Trust Co. increased its holdings in Arista Networks by 70.1% in the 3rd quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock worth $9,243,000 after buying an additional 20,704 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 334,227 shares of company stock worth $95,828,875. Company insiders own 18.99% of the company’s stock.

Arista Networks Trading Up 2.4 %

NYSE ANET traded up $5.81 on Tuesday, reaching $251.28. 2,297,441 shares of the stock were exchanged, compared to its average volume of 2,467,584. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The firm has a market capitalization of $78.56 billion, a PE ratio of 38.25, a PEG ratio of 2.10 and a beta of 1.09. The company’s 50-day simple moving average is $279.29 and its two-hundred day simple moving average is $246.19.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping 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 company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business earned $1.25 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. Sell-side analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ANET. Rosenblatt Securities restated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. The Goldman Sachs Group upped their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, KeyCorp increased their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

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.