Brown Brothers Harriman & Co. Buys 349,889 Shares of Arista Networks, Inc. (NYSE:ANET)

Brown Brothers Harriman & Co. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 334.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 454,610 shares of the technology company’s stock after buying an additional 349,889 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Arista Networks were worth $50,248,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Anchor Investment Management LLC boosted its holdings in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in shares of Arista Networks by 2.3% in the 3rd quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after purchasing an additional 36 shares during the last quarter. LRI Investments LLC grew its position in shares of Arista Networks by 3.1% during the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock worth $528,000 after buying an additional 41 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of Arista Networks by 3.8% during the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after buying an additional 43 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in Arista Networks by 1.3% in the third quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after buying an additional 64 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Down 1.3 %

ANET stock opened at $77.91 on Friday. The stock has a 50-day moving average price of $99.16 and a two-hundred day moving average price of $101.66. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock has a market cap of $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on ANET. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Citigroup upped their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler restated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.