Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Korea Investment CORP

Korea Investment CORP boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 259.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,054,460 shares of the technology company’s stock after purchasing an additional 761,433 shares during the period. Korea Investment CORP’s holdings in Arista Networks were worth $116,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Caitlin John LLC grew its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Evercore ISI upped 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. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Citigroup upped their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One equities 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 stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Down 6.0 %

ANET opened at $81.70 on Thursday. The firm has a market capitalization of $103.04 billion, a P/E ratio of 36.80, a PEG ratio of 3.10 and a beta of 1.08. The stock has a fifty day moving average of $100.78 and a 200-day moving average of $101.84. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. Corporate insiders own 3.54% of the company’s stock.

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.