Peregrine Asset Advisers Inc. Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Peregrine Asset Advisers Inc. lifted its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,220 shares of the technology company’s stock after acquiring an additional 4,665 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Arista Networks were worth $687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares in the last quarter. Swedbank AB boosted its stake in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after acquiring an additional 4,512,166 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after acquiring an additional 236,151 shares during the last quarter. Finally, DSM Capital Partners LLC lifted its holdings in Arista Networks by 259.7% during the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after acquiring an additional 3,746,407 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Price Performance

Shares of ANET stock opened at $98.31 on Friday. The stock has a market capitalization of $123.84 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09. The company’s fifty day simple moving average is $113.94 and its two-hundred day simple moving average is $101.57. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts anticipate that Arista Networks, Inc. will post 2.18 EPS for the current year.

Insider Activity

In related news, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock worth $30,225,623 over the last ninety days. Company insiders own 3.54% of the company’s stock.

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.