Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Fmr LLC

Fmr LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 330.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 57,648,129 shares of the technology company’s stock after buying an additional 44,269,572 shares during the quarter. Arista Networks makes up about 0.4% of Fmr LLC’s portfolio, making the stock its 29th largest holding. Fmr LLC’s holdings in Arista Networks were worth $6,371,848,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Stock Yards Bank & Trust Co. acquired a new stake in shares of Arista Networks in the fourth quarter valued at $242,000. GHE LLC increased its stake in Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC raised its stake in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new position in shares of Arista Networks during the fourth quarter worth about $630,000. Finally, Berkshire Capital Holdings Inc. lifted its holdings in shares of Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after buying an additional 55,430 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ANET. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Evercore ISI raised their price objective 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. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Down 9.8 %

ANET opened at $64.28 on Friday. The company has a fifty day moving average of $94.01 and a 200-day moving average of $101.29. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The stock has a market cap of $81.07 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

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 the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares in the company, valued at $10,840,249.20. The trade was a 5.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,001 shares of company stock worth $48,840,431. Company insiders own 3.54% of the company’s stock.

About Arista Networks

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.