Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Lifeworks Advisors LLC

Lifeworks Advisors LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 299.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,082 shares of the technology company’s stock after acquiring an additional 2,310 shares during the period. Lifeworks Advisors LLC’s holdings in Arista Networks were worth $341,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp increased its position in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares in the last quarter. Swedbank AB boosted its stake in 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 purchasing an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. grew its position in Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after purchasing an additional 4,919,882 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares during the period. Finally, WCM Investment Management LLC lifted 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 purchasing an additional 4,512,166 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ANET. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Barclays upped their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Price Performance

Arista Networks stock opened at $83.31 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company’s fifty day moving average price is $108.92 and its two-hundred day moving average price is $102.08. The company has a market capitalization of $105.07 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 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 business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares in the company, valued at $13,157,209.52. This represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 411,289 shares of company stock valued at $42,355,417 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

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.