Arista Networks, Inc. $ANET is Clifford Swan Investment Counsel LLC’s 7th Largest Position

Clifford Swan Investment Counsel LLC lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 4.3% during the third quarter, HoldingsChannel.com reports. The firm owned 551,229 shares of the technology company’s stock after selling 25,056 shares during the period. Arista Networks comprises approximately 2.7% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 7th biggest holding. Clifford Swan Investment Counsel LLC’s holdings in Arista Networks were worth $80,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its position in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares during the period. Bare Financial Services Inc raised its holdings in shares of Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. SJS Investment Consulting Inc. lifted its stake in shares of Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares in the last quarter. Finally, Guerra Advisors Inc purchased a new stake in shares of Arista Networks during the 3rd quarter worth about $41,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Needham & Company LLC increased their price target on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a report on Friday, February 13th. Evercore reissued an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. UBS Group set a $200.00 target price on Arista Networks in a research report on Tuesday. Finally, KeyCorp reiterated an “overweight” rating and set a $178.00 target price (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.88.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the sale, the director directly owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.35, for a total value of $3,701,100.00. Following the transaction, the insider owned 512,400 shares in the company, valued at $72,940,140. This trade represents a 4.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 194,422 shares of company stock valued at $25,620,741 over the last three months. 3.39% of the stock is owned by insiders.

Arista Networks Trading Up 3.2%

ANET stock opened at $132.90 on Thursday. The firm has a 50 day simple moving average of $134.19 and a 200-day simple moving average of $137.44. The company has a market capitalization of $167.00 billion, a P/E ratio of 48.15, a PEG ratio of 2.28 and a beta of 1.42. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.