Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 324.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,871 shares of the technology company’s stock after acquiring an additional 63,367 shares during the quarter. Advisors Asset Management Inc.’s holdings in Arista Networks were worth $9,160,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp lifted its stake in Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after buying an additional 411,109 shares during the last quarter. Swedbank AB lifted its position in Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after purchasing an additional 4,919,882 shares during the period. Amundi grew its position in Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock worth $732,493,000 after purchasing an additional 4,201,973 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Arista Networks by 294.1% in the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 1.3 %

Shares of NYSE ANET opened at $83.96 on Wednesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company has a market cap of $105.88 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 3.10 and a beta of 1.08. The business has a fifty day simple moving average of $104.44 and a 200-day simple moving average of $101.89.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was 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 the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction 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 represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ANET. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and increased their price target for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.