TD Asset Management Inc. Buys 2,236,263 Shares of Arista Networks, Inc. (NYSE:ANET)

TD Asset Management Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 271.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,058,689 shares of the technology company’s stock after acquiring an additional 2,236,263 shares during the quarter. TD Asset Management Inc.’s holdings in Arista Networks were worth $338,077,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. Swedbank AB raised its position in shares of 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp grew its position in shares of Arista Networks by 294.1% in the 4th 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. Finally, WCM Investment Management LLC increased its stake in Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and lifted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Trading Up 5.3 %

NYSE ANET opened at $87.58 on Tuesday. The firm’s fifty day moving average price is $102.03 and its two-hundred day moving average price is $101.92. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm has a market capitalization of $110.44 billion, a P/E ratio of 39.45, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the sale, the director now directly owns 163,784 shares of the company’s stock, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by company insiders.

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.