BlueChip Wealth Advisors LLC Buys 1,106 Shares of Arista Networks, Inc. (NYSE:ANET)

BlueChip Wealth Advisors LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 93.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,292 shares of the technology company’s stock after purchasing an additional 1,106 shares during the period. BlueChip Wealth Advisors LLC’s holdings in Arista Networks were worth $253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks during the 4th quarter worth approximately $242,000. GHE LLC lifted its position in shares of Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after purchasing an additional 21,597 shares in the last quarter. Colonial River Investments LLC boosted its holdings in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Unified Investment Management bought a new position in Arista Networks in the fourth quarter valued at $630,000. Finally, Berkshire Capital Holdings Inc. lifted its position in Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after buying an additional 55,430 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $77.91 on Friday. The firm has a market cap of $98.25 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The firm’s 50-day simple moving average is $99.16 and its 200 day simple moving average is $101.66.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ANET. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Citigroup upped their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.