Douglass Winthrop Advisors LLC Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

Douglass Winthrop Advisors LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,120 shares of the technology company’s stock after acquiring an additional 6,090 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Arista Networks were worth $898,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB boosted its position in Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after buying an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Arista Networks by 320.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after purchasing an additional 4,919,882 shares during the period. Bank of New York Mellon Corp grew its stake in Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after purchasing an additional 4,579,622 shares in the last quarter. WCM Investment Management LLC increased its holdings in Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after purchasing an additional 4,512,166 shares during the period. Finally, Amundi raised its position in Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after purchasing an additional 4,201,973 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. One 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. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock worth $49,112,111 over the last 90 days. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Performance

NYSE ANET opened at $83.26 on Friday. The firm’s fifty day moving average is $102.53 and its two-hundred day moving average is $101.60. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The firm has a market cap of $104.99 billion, a PE ratio of 37.50, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (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 firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.