Financial Engines Advisors L.L.C. Purchases 1,914 Shares of Arista Networks, Inc. (NYSE:ANET)

Financial Engines Advisors L.L.C. raised its position in Arista Networks, Inc. (NYSE:ANET) by 286.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,583 shares of the technology company’s stock after purchasing an additional 1,914 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Arista Networks were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Caitlin John LLC increased its position in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its position in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $77.91 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The company’s 50-day moving average is $99.16 and its 200 day moving average is $101.66. The stock has a market capitalization of $98.25 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08.

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

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.