Adage Capital Partners GP L.L.C. Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Adage Capital Partners GP L.L.C. increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 302.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 915,800 shares of the technology company's stock after acquiring an additional 688,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.07% of Arista Networks worth $101,223,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Caitlin John LLC boosted its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont grew its position 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 worth $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC increased its holdings in shares of 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 acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Up 1.4 %

Shares of ANET opened at $68.59 on Wednesday. The company has a 50-day simple moving average of $82.57 and a 200-day simple moving average of $98.87. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The company has a market capitalization of $86.12 billion, a PE ratio of 30.90, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ANET shares. JPMorgan Chase & Co. decreased their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Morgan Stanley lowered their target price on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $104.29.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the business's 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 of the company's stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 410,863 shares of company stock valued at $39,344,612 in the last ninety days. 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.

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