Capital International Sarl Grows Stake in Arista Networks, Inc. (NYSE:ANET)

Capital International Sarl raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 155.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,382 shares of the technology company’s stock after purchasing an additional 86,563 shares during the period. Capital International Sarl’s holdings in Arista Networks were worth $15,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ANET. Morse Asset Management Inc acquired a new position in Arista Networks during the 3rd quarter valued at approximately $123,000. Virtu Financial LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $1,752,000. World Investment Advisors LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $401,000. Wilmington Savings Fund Society FSB purchased a new position in Arista Networks in the 3rd quarter worth $2,222,000. Finally, Tidal Investments LLC lifted its position in Arista Networks by 5.6% during the 3rd quarter. Tidal Investments LLC now owns 37,383 shares of the technology company’s stock worth $14,348,000 after acquiring an additional 1,998 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ANET. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI decreased their price objective on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley cut their price objective on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.07.

Arista Networks Stock Down 1.1 %

Shares of ANET opened at $71.11 on Friday. The firm’s fifty day moving average is $85.15 and its two-hundred day moving average is $99.44. The stock has a market cap of $89.67 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, research analysts anticipate 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.