Robertson Stephens Wealth Management LLC Purchases 8,428 Shares of Arista Networks, Inc. (NYSE:ANET)

Robertson Stephens Wealth Management LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 305.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,188 shares of the technology company’s stock after acquiring an additional 8,428 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Arista Networks were worth $1,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GW Henssler & Associates Ltd. grew its position in shares of Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 2,219 shares during the period. Sumitomo Life Insurance Co. boosted its holdings in shares of Arista Networks by 69.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after buying an additional 3,711 shares during the period. Walkner Condon Financial Advisors LLC bought a new stake in shares of Arista Networks during the 3rd quarter worth about $2,318,000. Greenleaf Trust boosted its holdings in shares of Arista Networks by 20.1% during the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock worth $5,076,000 after buying an additional 2,216 shares during the period. Finally, Forsta AP Fonden boosted its holdings in shares of Arista Networks by 10.0% during the 3rd quarter. Forsta AP Fonden now owns 72,800 shares of the technology company’s stock worth $27,942,000 after buying an additional 6,600 shares during the period. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI lifted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. UBS Group lifted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Trading Down 0.3 %

Shares of Arista Networks stock opened at $115.11 on Friday. The company has a 50 day moving average of $112.58 and a 200-day moving average of $99.48. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a market cap of $145.01 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,832 shares of company stock valued at $28,538,497. Company insiders own 3.54% 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.