First Horizon Advisors Inc. Acquires 2,891 Shares of Arista Networks, Inc. (NYSE:ANET)

First Horizon Advisors Inc. increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,854 shares of the technology company’s stock after purchasing an additional 2,891 shares during the quarter. First Horizon Advisors Inc.’s holdings in Arista Networks were worth $426,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks in the third quarter worth $44,000. HM Payson & Co. grew its stake in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares during the last quarter. Finally, Transcendent Capital Group LLC grew its stake in shares of Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 260,056 shares of company stock valued at $30,225,623 over the last three months. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ANET. Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group boosted their target price on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Barclays boosted their target price on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report 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. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Trading Down 5.8 %

Shares of NYSE ANET opened at $92.61 on Tuesday. The firm’s 50-day moving average price is $113.18 and its 200-day moving average price is $102.07. The firm has a market capitalization of $116.80 billion, a P/E ratio of 41.72, a P/E/G ratio of 3.27 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

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

Arista Networks 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.