Arista Networks, Inc. (NYSE:ANET) Shares Purchased by AGF Management Ltd.

AGF Management Ltd. lifted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 447.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,466 shares of the technology company's stock after purchasing an additional 24,896 shares during the quarter. AGF Management Ltd.'s holdings in Arista Networks were worth $3,367,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Caitlin John LLC raised its stake in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% during 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 raised its stake 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 last quarter. Finally, New Millennium Group LLC raised its stake in Arista Networks by 300.0% during 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 last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

ANET opened at $80.34 on Thursday. The stock has a market cap of $101.32 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.10 and a beta of 1.08. The stock's 50 day simple moving average is $107.01 and its 200 day simple moving average is $101.88. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58.

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Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. 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. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, UBS Group raised 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

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.

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