Entropy Technologies LP Acquires 28,363 Shares of Arista Networks, Inc. (NYSE:ANET)

Entropy Technologies LP raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 386.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,706 shares of the technology company’s stock after acquiring an additional 28,363 shares during the quarter. Entropy Technologies LP’s holdings in Arista Networks were worth $3,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares during the period. Swedbank AB grew its position in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares in the last quarter. Geode Capital Management LLC grew its position in Arista Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after acquiring an additional 236,151 shares in the last quarter. Jennison Associates LLC grew its position in Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after acquiring an additional 3,496,497 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Arista Networks by 22.7% in the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock worth $1,021,228,000 after acquiring an additional 492,615 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 2.8 %

NYSE ANET opened at $118.52 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock has a market cap of $149.31 billion, a P/E ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09. The stock’s fifty day moving average price is $113.21 and its 200-day moving average price is $99.81.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANET. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Barclays cut their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.