Empirical Financial Services LLC d.b.a. Empirical Wealth Management Reduces Stock Position in Arista Networks, Inc. (NYSE:ANET)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,838 shares of the technology company’s stock after selling 289 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Arista Networks were worth $2,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Peregrine Asset Advisers Inc. purchased a new position in Arista Networks in the 4th quarter worth about $236,000. Apollon Wealth Management LLC grew its stake in Arista Networks by 38.4% in the 4th quarter. Apollon Wealth Management LLC now owns 6,244 shares of the technology company’s stock worth $1,471,000 after acquiring an additional 1,733 shares in the last quarter. Lincoln National Corp boosted its holdings in shares of Arista Networks by 4.0% in the fourth quarter. Lincoln National Corp now owns 16,875 shares of the technology company’s stock valued at $3,974,000 after purchasing an additional 648 shares during the period. Fielder Capital Group LLC purchased a new stake in shares of Arista Networks in the fourth quarter valued at approximately $279,000. Finally, UNIVEST FINANCIAL Corp bought a new position in Arista Networks in the fourth quarter worth approximately $213,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 1.7 %

Shares of Arista Networks stock traded down $4.85 during midday trading on Tuesday, hitting $273.97. The company had a trading volume of 4,044,673 shares, compared to its average volume of 2,468,249. The company has a fifty day simple moving average of $279.22 and a 200 day simple moving average of $251.25. The stock has a market cap of $85.65 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 2.33 and a beta of 1.13. Arista Networks, Inc. has a 12-month low of $133.42 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 analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. As a group, analysts expect that Arista Networks, Inc. will post 6.74 EPS for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. KeyCorp raised their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Wells Fargo & Company upped their price target on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $285.53.

Insider Buying and Selling at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,474 shares of company stock worth $96,640,840. 3.54% of the stock is currently owned by insiders.

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.