RNC Capital Management LLC Buys 4,154 Shares of Arista Networks, Inc. (NYSE:ANET)

RNC Capital Management LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 342.5% in the 4th quarter, HoldingsChannel reports. The firm owned 5,367 shares of the technology company’s stock after purchasing an additional 4,154 shares during the period. RNC Capital Management LLC’s holdings in Arista Networks were worth $593,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Caitlin John LLC lifted its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. New Millennium Group LLC raised its stake in shares of Arista Networks by 300.0% during 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. Finally, Westside Investment Management Inc. raised its stake in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Down 0.3 %

Shares of ANET stock opened at $115.11 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock 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. The company’s fifty day moving average price is $112.58 and its 200-day moving average price is $99.48.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating 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 firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group lifted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. 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 research note on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities lifted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,076,289.82. This represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,832 shares of company stock worth $28,538,497. Corporate insiders own 3.54% of the company’s stock.

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.