Arista Networks, Inc. (NYSE:ANET) Holdings Raised by 1858 Wealth Management LLC

1858 Wealth Management LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 280.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,199 shares of the technology company’s stock after acquiring an additional 12,679 shares during the quarter. Arista Networks comprises 1.5% of 1858 Wealth Management LLC’s holdings, making the stock its 18th biggest position. 1858 Wealth Management LLC’s holdings in Arista Networks were worth $1,901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swedbank AB raised its holdings in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. Jennison Associates LLC increased its position in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Arista Networks by 473.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock worth $146,593,000 after buying an additional 1,094,910 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after buying an additional 872,919 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Arista Networks by 335.0% during the fourth quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock valued at $79,278,000 after buying an additional 552,350 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock worth $28,538,497 over the last ninety days. 3.54% of the stock is currently owned by insiders.

Arista Networks Trading Down 0.3 %

Shares of NYSE:ANET opened at $115.11 on Friday. The business has a fifty day simple moving average of $112.58 and a 200 day simple moving average of $99.48. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. On average, sell-side analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ANET. Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities lifted their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Barclays dropped their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.83.

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.