Arista Networks, Inc. (NYSE:ANET) Stake Increased by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,516 shares of the technology company’s stock after buying an additional 1,137 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Arista Networks were worth $168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ANET. Vanguard Group Inc. lifted its position in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after buying an additional 72,311,318 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares in the last quarter. Alliancebernstein L.P. boosted its position in Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after purchasing an additional 14,454,822 shares during the last quarter. Norges Bank purchased a new position in Arista Networks in the fourth quarter valued at about $1,397,833,000. Finally, Wellington Management Group LLP increased its position in Arista Networks by 313.9% in the 4th quarter. Wellington Management Group LLP now owns 11,013,511 shares of the technology company’s stock worth $1,217,323,000 after purchasing an additional 8,352,816 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 139,784 shares of the company’s stock, valued at $10,840,249.20. The trade was a 5.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,001 shares of company stock worth $48,840,431. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Down 9.8 %

Shares of ANET stock opened at $64.28 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The stock has a 50 day moving average of $94.01 and a 200-day moving average of $101.29. The firm has a market cap of $81.07 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

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 analyst estimates of $1.90 billion. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $114.00.

About Arista Networks

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.