Birchcreek Wealth Management LLC Has $515,000 Position in Arista Networks, Inc. (NYSE:ANET)

Birchcreek Wealth Management LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 207.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,661 shares of the technology company’s stock after acquiring an additional 3,143 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Arista Networks were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of ANET. Swedbank AB boosted its holdings in Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares during the last quarter. DSM Capital Partners LLC raised its stake in shares of Arista Networks by 259.7% during the 4th quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after purchasing an additional 3,746,407 shares during the period. Jennison Associates LLC raised its stake in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after purchasing an additional 3,496,497 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Arista Networks by 306.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after purchasing an additional 1,835,421 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group lifted their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup boosted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Stock Down 4.9 %

ANET stock opened at $98.31 on Monday. The firm has a market capitalization of $123.97 billion, a PE ratio of 44.28, a PEG ratio of 3.27 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The stock has a 50-day simple moving average of $113.66 and a two-hundred day simple moving average of $102.01.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.19 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. 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 260,056 shares of company stock valued at $30,225,623. 3.54% of the stock is owned by corporate insiders.

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.