American Century Companies Inc. Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

American Century Companies Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 874.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,506,568 shares of the technology company's stock after buying an additional 2,249,451 shares during the period. American Century Companies Inc. owned about 0.20% of Arista Networks worth $277,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitlin John LLC lifted its stake in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% in the 4th 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 last quarter. Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. Finally, New Millennium Group LLC increased its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the business's stock in a transaction on Monday, February 24th. The stock was 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. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. UBS Group raised shares of 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 report on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Erste Group Bank downgraded 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 issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Arista Networks Stock Performance

Shares of Arista Networks stock traded down $0.64 during midday trading on Tuesday, hitting $86.87. The company had a trading volume of 7,776,843 shares, compared to its average volume of 8,570,789. The company has a 50 day moving average of $102.03 and a 200 day moving average of $101.92. The stock has a market capitalization of $109.55 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.