Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,185 shares of the technology company’s stock after buying an additional 544 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Arista Networks were worth $2,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Arista Networks by 0.3% during the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after buying an additional 84,212 shares in the last quarter. FMR LLC raised its position in shares of Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. WCM Investment Management LLC raised its position in shares of Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after purchasing an additional 16,081 shares during the period. Northern Trust Corp raised its position in shares of Arista Networks by 5.0% during the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock worth $442,120,000 after purchasing an additional 114,978 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Arista Networks by 0.8% during the 4th quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock worth $425,683,000 after purchasing an additional 14,627 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ANET shares. JPMorgan Chase & Co. increased their price target on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Morgan Stanley increased their price target on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. KeyCorp increased their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Finally, The Goldman Sachs Group increased their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Activity

In other news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 333,494 shares of company stock worth $95,632,321. Insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 0.1 %

NYSE ANET traded down $0.19 on Friday, reaching $264.57. 2,521,273 shares of the stock traded hands, compared to its average volume of 2,483,228. The firm’s fifty day simple moving average is $279.09 and its 200 day simple moving average is $246.85. The company has a market cap of $82.71 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 2.18 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal 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.