Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,442 shares of the technology company’s stock after acquiring an additional 5,350 shares during the period. Russell Investments Group Ltd.’s holdings in Arista Networks were worth $22,276,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management bought a new position in Arista Networks during the 3rd quarter worth $1,561,000. Commonwealth Equity Services LLC increased its position in Arista Networks by 41.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 90,691 shares of the technology company’s stock worth $16,681,000 after purchasing an additional 26,472 shares during the last quarter. Accurate Wealth Management LLC acquired a new position in Arista Networks in the 3rd quarter worth about $242,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Arista Networks by 25.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 41,569 shares of the technology company’s stock worth $7,646,000 after acquiring an additional 8,478 shares in the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in Arista Networks during the 3rd quarter valued at approximately $208,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider John F. Mccool sold 420 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were 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 directly owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 332,514 shares of company stock worth $95,369,397. 18.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company raised their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen 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 a consensus target price of $275.59.

Arista Networks Stock Down 0.5 %

Shares of NYSE:ANET opened at $255.24 on Thursday. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The stock has a market capitalization of $80.05 billion, a P/E ratio of 38.85, a PEG ratio of 2.25 and a beta of 1.09. The firm has a fifty day simple moving average of $279.08 and a two-hundred day simple moving average of $248.62.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. On average, analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

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.