Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 424.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,703 shares of the technology company’s stock after purchasing an additional 164,836 shares during the period. Ieq Capital LLC’s holdings in Arista Networks were worth $22,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANET. OLD National Bancorp IN lifted its position in Arista Networks by 6.0% in the third quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company’s stock valued at $417,000 after acquiring an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Arista Networks by 2.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company’s stock valued at $1,362,000 after acquiring an additional 68 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Arista Networks by 16.6% in the third quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company’s stock valued at $207,000 after acquiring an additional 77 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock valued at $251,000 after acquiring an additional 31 shares during the last quarter. Finally, Vicus Capital purchased a new stake in Arista Networks in the third quarter valued at $211,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ANET shares. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday. Finally, Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.79.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,944 shares of company stock worth $30,214,186. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Down 6.5 %

Shares of Arista Networks stock opened at $103.82 on Thursday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The company’s 50-day simple moving average is $114.08 and its 200-day simple moving average is $101.54. The firm has a market cap of $130.79 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business 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 1.97 EPS 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.