Cookson Peirce & Co. Inc. Sells 1,875 Shares of Arista Networks, Inc. (NYSE:ANET)

Cookson Peirce & Co. Inc. reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 57.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,378 shares of the technology company’s stock after selling 1,875 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Arista Networks were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sandy Spring Bank grew its holdings in shares of Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Arista Networks by 2.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after purchasing an additional 41 shares during the last quarter. Purus Wealth Management LLC grew its holdings in shares of Arista Networks by 0.5% in the fourth quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock worth $2,030,000 after purchasing an additional 43 shares during the last quarter. Congress Park Capital LLC grew its holdings in shares of Arista Networks by 0.6% in the fourth quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock worth $1,823,000 after purchasing an additional 43 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Arista Networks by 0.7% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,394 shares of the technology company’s stock worth $1,506,000 after purchasing an additional 44 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $940,922.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The disclosure for this sale can be found here. Insiders sold a total of 342,415 shares of company stock valued at $98,017,152 in the last quarter. 18.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ANET shares. Rosenblatt Securities restated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Morgan Stanley raised their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. KeyCorp lifted their price target on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Trading Down 1.3 %

Shares of Arista Networks stock opened at $259.42 on Thursday. The firm has a market capitalization of $81.10 billion, a P/E ratio of 39.49, a P/E/G ratio of 2.26 and a beta of 1.09. The business has a fifty day simple moving average of $281.39 and a two-hundred day simple moving average of $244.06. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. Analysts predict that Arista Networks, Inc. will post 6.67 earnings per share for the current year.

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.