Harbour Investments Inc. Has $164,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

Harbour Investments Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 432.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,485 shares of the technology company’s stock after acquiring an additional 1,206 shares during the quarter. Harbour Investments Inc.’s holdings in Arista Networks were worth $164,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Corient Private Wealth LLC grew its stake in shares of Arista Networks by 251.8% during the fourth quarter. Corient Private Wealth LLC now owns 307,011 shares of the technology company’s stock worth $33,602,000 after buying an additional 219,745 shares during the last quarter. Centurion Wealth Management LLC lifted its holdings in shares of Arista Networks by 296.4% during the fourth quarter. Centurion Wealth Management LLC now owns 2,874 shares of the technology company’s stock worth $318,000 after purchasing an additional 2,149 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Arista Networks by 247.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 84,285 shares of the technology company’s stock valued at $9,316,000 after buying an additional 60,004 shares during the last quarter. Avalon Trust Co bought a new position in shares of Arista Networks during the fourth quarter worth about $11,305,000. Finally, one8zero8 LLC acquired a new position in shares of Arista Networks in the fourth quarter worth approximately $4,863,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

ANET stock opened at $83.26 on Friday. The company has a market capitalization of $104.99 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58. The business has a 50-day simple moving average of $102.53 and a two-hundred day simple moving average of $101.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (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 business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ANET. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Barclays reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

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.