Arista Networks, Inc. (NYSE:ANET) Stake Boosted by Capital City Trust Co. FL

Capital City Trust Co. FL increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 288.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,137 shares of the technology company’s stock after buying an additional 78,803 shares during the period. Arista Networks comprises approximately 2.9% of Capital City Trust Co. FL’s holdings, making the stock its 9th largest holding. Capital City Trust Co. FL’s holdings in Arista Networks were worth $11,731,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Swedbank AB boosted its position in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC boosted its position in Arista Networks by 292.8% during 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 purchasing an additional 4,512,166 shares in the last quarter. DSM Capital Partners LLC boosted its position 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 valued at $573,527,000 after purchasing an additional 3,746,407 shares in the last quarter. Jennison Associates LLC boosted its position in Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Arista Networks by 306.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after acquiring an additional 1,835,421 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 4.9 %

Shares of ANET stock opened at $98.31 on Friday. The stock has a 50 day moving average of $113.94 and a 200 day moving average of $101.57. The stock has a market cap of $123.84 billion, a P/E ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, research analysts predict that Arista Networks, Inc. will post 2.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ANET shares. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday. Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday. Barclays raised their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.79.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,056 shares of company stock worth $30,225,623 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

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.