Axxcess Wealth Management LLC Grows Position in Arista Networks, Inc. (NYSE:ANET)

Axxcess Wealth Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 26.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,442 shares of the technology company’s stock after buying an additional 1,775 shares during the period. Axxcess Wealth Management LLC’s holdings in Arista Networks were worth $1,988,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Arista Networks by 25.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 41,569 shares of the technology company’s stock worth $7,646,000 after purchasing an additional 8,478 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in Arista Networks during the third quarter worth about $208,000. Raymond James & Associates lifted its holdings in Arista Networks by 0.3% in the third quarter. Raymond James & Associates now owns 158,390 shares of the technology company’s stock valued at $29,133,000 after acquiring an additional 397 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Arista Networks by 16.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,642 shares of the technology company’s stock worth $3,981,000 after purchasing an additional 3,005 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in shares of Arista Networks by 7.6% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,607 shares of the technology company’s stock valued at $296,000 after purchasing an additional 114 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Up 4.8 %

NYSE ANET traded up $12.54 on Friday, hitting $274.40. 2,883,651 shares of the stock were exchanged, compared to its average volume of 2,426,995. The company has a 50-day moving average price of $279.07 and a 200-day moving average price of $249.25. The company has a market cap of $85.79 billion, a PE ratio of 41.77, a PEG ratio of 2.34 and a beta of 1.13. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts predict that Arista Networks, Inc. will post 6.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, KeyCorp lifted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $285.53.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 420 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $922,301.64. The disclosure for this sale can be found here. Insiders have sold 335,974 shares of company stock worth $96,252,685 in the last quarter. Company insiders own 18.99% of the company’s stock.

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.