Yorktown Management & Research Co Inc Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Yorktown Management & Research Co Inc grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,800 shares of the technology company’s stock after buying an additional 7,350 shares during the quarter. Arista Networks makes up 1.0% of Yorktown Management & Research Co Inc’s holdings, making the stock its 8th biggest holding. Yorktown Management & Research Co Inc’s holdings in Arista Networks were worth $1,083,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of ANET. State Street Corp boosted its holdings in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Swedbank AB boosted its stake in Arista Networks by 293.2% during 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. Geode Capital Management LLC grew its holdings in Arista Networks by 4.2% during 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 buying an additional 236,151 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Arista Networks by 307.7% in the fourth 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 last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Arista Networks by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock worth $1,021,228,000 after buying an additional 492,615 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Down 0.3 %

Shares of ANET opened at $115.11 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The firm has a market capitalization of $145.01 billion, a price-to-earnings ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. The firm’s 50-day moving average price is $112.58 and its 200-day moving average price is $99.48.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks 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 transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ANET. The Goldman Sachs Group increased their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. UBS Group upped their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $105.83.

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.