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

Tobam grew its position in Arista Networks, Inc. (NYSE:ANET) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,886 shares of the technology company’s stock after acquiring an additional 6,423 shares during the period. Tobam’s holdings in Arista Networks were worth $3,082,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ANET. State Street Corp boosted its stake in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares during the last quarter. Swedbank AB increased its holdings in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after purchasing an additional 236,151 shares during the period. Jennison Associates LLC increased its position in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after acquiring an additional 3,496,497 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Arista Networks by 22.7% in the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after purchasing an additional 492,615 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their price target on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Barclays lowered their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $105.83.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % 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. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock opened at $115.11 on Friday. The firm has a fifty day moving average price of $112.58 and a two-hundred day moving average price of $99.48. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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 quarter in the prior year, the company posted $0.41 EPS. The business’s revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

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.