Arista Networks, Inc. (NYSE:ANET) Shares Purchased by CenterBook Partners LP

CenterBook Partners LP boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 1,321.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 85,315 shares of the technology company’s stock after acquiring an additional 79,312 shares during the period. CenterBook Partners LP’s holdings in Arista Networks were worth $9,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ANET. Vanguard Group Inc. boosted its holdings in shares of Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC boosted its position in shares of Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after buying an additional 44,269,572 shares during the period. Geode Capital Management LLC grew its holdings in Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after buying an additional 18,293,874 shares in the last quarter. Alliancebernstein L.P. increased its position in Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Finally, Norges Bank bought a new stake in Arista Networks during the 4th quarter valued at $1,397,833,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Finally, UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and increased their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.50.

Arista Networks Stock Up 1.8 %

Shares of NYSE:ANET opened at $69.42 on Wednesday. The company’s fifty day moving average is $91.86 and its two-hundred day moving average is $100.77. The company has a market cap of $87.55 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET) last posted 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm 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 2.2 earnings per share for the current year.

Insider Activity

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. This represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,001 shares of company stock worth $39,362,831 in the last 90 days. Company insiders own 3.54% of the company’s stock.

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.