Morningstar Investment Management LLC Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Morningstar Investment Management LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,152 shares of the technology company’s stock after buying an additional 1,614 shares during the period. Morningstar Investment Management LLC’s holdings in Arista Networks were worth $238,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC lifted its holdings in Arista Networks by 456.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 15,512 shares of the technology company’s stock valued at $1,715,000 after acquiring an additional 12,725 shares during the last quarter. Meitav Investment House Ltd. acquired a new position in Arista Networks in the fourth quarter valued at approximately $939,000. Handelsbanken Fonder AB lifted its holdings in Arista Networks by 277.7% in the fourth quarter. Handelsbanken Fonder AB now owns 645,811 shares of the technology company’s stock valued at $71,381,000 after acquiring an additional 474,804 shares during the last quarter. Wealth Alliance lifted its holdings in Arista Networks by 292.0% in the fourth quarter. Wealth Alliance now owns 42,492 shares of the technology company’s stock valued at $4,697,000 after acquiring an additional 31,652 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in Arista Networks by 424.1% in the fourth quarter. Ieq Capital LLC now owns 203,703 shares of the technology company’s stock valued at $22,515,000 after acquiring an additional 164,836 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

NYSE:ANET opened at $103.82 on Thursday. The firm has a market capitalization of $130.79 billion, a PE ratio of 49.91, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09. The business’s fifty day moving average price is $114.08 and its 200 day moving average price is $101.54. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. As a group, equities analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,944 shares of company stock valued at $30,214,186. 3.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group upped their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays upped their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group upped their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday. Finally, Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

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.