Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Syon Capital LLC

Syon Capital LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,821 shares of the technology company’s stock after purchasing an additional 435 shares during the quarter. Syon Capital LLC’s holdings in Arista Networks were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. FMR LLC grew its position in shares of Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after acquiring an additional 1,025,815 shares during the period. International Assets Investment Management LLC lifted its holdings in Arista Networks by 25,188.0% in the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after acquiring an additional 611,312 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Arista Networks by 294.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after acquiring an additional 556,568 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Arista Networks by 122.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock worth $151,956,000 after buying an additional 454,146 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. KeyCorp boosted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Barclays lifted their price target on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Trading Down 0.0 %

ANET traded down $0.06 during trading on Friday, reaching $264.70. 2,504,912 shares of the company were exchanged, compared to its average volume of 2,483,029. The stock has a market cap of $82.75 billion, a P/E ratio of 40.65, a PEG ratio of 2.18 and a beta of 1.09. The firm has a 50 day moving average of $279.04 and a 200 day moving average of $246.38. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jayshree Ullal sold 980 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $268.29, for a total transaction of $262,924.20. Following the completion of the sale, the chief executive officer now directly owns 73,051 shares of the company’s stock, valued at $19,598,852.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Insiders sold 333,494 shares of company stock valued at $95,632,321 over the last 90 days. 18.99% of the stock is currently owned by corporate insiders.

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.