Invesco Ltd. Has $1.24 Billion Stock Position in Arista Networks, Inc. (NYSE:ANET)

Invesco Ltd. boosted its position in Arista Networks, Inc. (NYSE:ANET) by 271.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,190,118 shares of the technology company’s stock after acquiring an additional 8,175,884 shares during the quarter. Invesco Ltd.’s holdings in Arista Networks were worth $1,236,844,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on ANET shares. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Citigroup raised their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Price Performance

ANET stock opened at $64.28 on Monday. The stock has a market capitalization of $81.07 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $57.80 and a fifty-two week high of $133.58. The business has a 50-day moving average of $94.01 and a 200-day moving average of $101.37.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 411,001 shares of company stock worth $39,362,831 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

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.