MONECO Advisors LLC Invests $206,000 in Arista Networks, Inc. (NYSE:ANET)

MONECO Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, HoldingsChannel reports. The fund bought 1,868 shares of the technology company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caitlin John LLC boosted its holdings in shares of Arista Networks by 174.7% during the 4th 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. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its holdings 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 worth $29,000 after purchasing an additional 198 shares during the last quarter. New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the period. Finally, Westside Investment Management Inc. raised its position in shares of Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 0.2 %

NYSE:ANET opened at $92.85 on Wednesday. The company has a fifty day simple moving average of $112.78 and a two-hundred day simple moving average of $102.13. The company has a market cap of $117.10 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly 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 business 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%. On average, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 260,224 shares of company stock worth $30,242,856 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group lifted their price target on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

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.