Arrow Capital Pty Ltd Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Arrow Capital Pty Ltd purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, Holdings Channel reports. The firm purchased 27,500 shares of the technology company’s stock, valued at approximately $3,040,000. Arista Networks makes up about 2.8% of Arrow Capital Pty Ltd’s portfolio, making the stock its 14th biggest position.

Other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. lifted its holdings in Arista Networks by 291.7% in the fourth quarter. Fairfield Bush & CO. now owns 17,994 shares of the technology company’s stock worth $1,989,000 after buying an additional 13,400 shares during the period. Canada Pension Plan Investment Board lifted its position in Arista Networks by 2,886.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,469,132 shares of the technology company’s stock valued at $162,383,000 after acquiring an additional 1,419,946 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Arista Networks during the fourth quarter valued at $4,306,000. First Commonwealth Financial Corp PA grew its stake in shares of Arista Networks by 124.3% in the fourth quarter. First Commonwealth Financial Corp PA now owns 11,728 shares of the technology company’s stock worth $1,296,000 after acquiring an additional 6,500 shares during the period. Finally, Gratus Wealth Advisors LLC grew its position in Arista Networks by 299.7% in the 4th quarter. Gratus Wealth Advisors LLC now owns 13,169 shares of the technology company’s stock worth $1,456,000 after purchasing an additional 9,874 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $71.94 on Thursday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The firm has a market capitalization of $90.73 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The business has a 50 day simple moving average of $86.13 and a 200-day simple moving average of $99.61.

Arista Networks (NYSE:ANET) last posted its 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 for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value 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 approximately $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 accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This represents a 5.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Evercore ISI cut their price target on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday. Citigroup decreased their target price on Arista Networks from $121.00 to $92.00 and set a “buy” rating for the company in a research report on Monday. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.29.

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.