CAP Partners LLC Acquires 5,744 Shares of Arista Networks, Inc. (NYSE:ANET)

CAP Partners LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 296.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,680 shares of the technology company’s stock after buying an additional 5,744 shares during the quarter. CAP Partners LLC’s holdings in Arista Networks were worth $849,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ANET. Swedbank AB increased its stake in shares of Arista Networks by 293.2% during the 4th 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 during the last quarter. WCM Investment Management LLC grew its holdings in Arista Networks by 292.8% during the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares during the period. Jennison Associates LLC increased 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 buying an additional 3,496,497 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Arista Networks by 306.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock valued at $268,966,000 after buying an additional 1,835,421 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Arista Networks by 473.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock valued at $146,593,000 after buying an additional 1,094,910 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ANET. UBS Group boosted their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Barclays cut their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Rosenblatt Securities increased their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Price Performance

ANET stock opened at $120.15 on Tuesday. The firm has a 50 day simple moving average of $113.21 and a two-hundred day simple moving average of $100.04. The stock has a market cap of $151.36 billion, a PE ratio of 57.76, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now directly owns 288 shares of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 335,832 shares of company stock worth $37,787,297. Corporate insiders own 3.54% of the company’s stock.

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.