VCI Wealth Management LLC Purchases New Stake in Arista Networks, Inc. (NYSE:ANET)

VCI Wealth Management LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,045 shares of the technology company’s stock, valued at approximately $246,000.

Other large investors also recently made changes to their positions in the company. FMR LLC boosted its position in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after purchasing an additional 1,025,815 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Arista Networks by 25,188.0% in the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after acquiring an additional 611,312 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Arista Networks by 294.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after acquiring an additional 556,568 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Arista Networks by 122.1% during the third quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock worth $151,956,000 after purchasing an additional 454,146 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, the chief executive officer now directly owns 73,051 shares in the company, valued at approximately $19,598,852.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, insider John F. Mccool sold 420 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 980 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 73,051 shares in the company, valued at $19,598,852.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 333,494 shares of company stock worth $95,632,321. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET traded down $0.19 during mid-day trading on Friday, hitting $264.57. The company’s stock had a trading volume of 2,521,273 shares, compared to its average volume of 2,483,228. The firm has a market capitalization of $82.71 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.09. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The stock’s 50-day moving average is $279.04 and its two-hundred day moving average is $246.38.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. The Goldman Sachs Group upped their price target on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.