Arista Networks, Inc. (NYSE:ANET) Shares Bought by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 142.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,969 shares of the technology company's stock after acquiring an additional 12,333 shares during the quarter. Capital Group Investment Management PTE. LTD.'s holdings in Arista Networks were worth $2,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Caitlin John LLC raised its stake in shares of 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 buying an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of 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 purchasing an additional 191 shares during the period. New Millennium Group LLC boosted its holdings 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 buying an additional 195 shares during the period. Cranbrook Wealth Management LLC lifted its position 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 in the last quarter. Finally, 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 purchasing an additional 198 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

ANET has been the subject of a number of research reports. Rosenblatt Securities restated a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI decreased their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Barclays reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $106.07.

Arista Networks Stock Up 1.9 %

Shares of ANET stock traded up $1.32 during trading hours on Tuesday, hitting $68.99. 2,911,725 shares of the company's stock were exchanged, compared to its average volume of 11,187,954. The firm has a market cap of $87.00 billion, a P/E ratio of 31.07, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.57. The firm has a 50 day moving average of $83.39 and a two-hundred day moving average of $99.08.

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. 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 during the quarter, compared to analysts' expectations of $1.90 billion. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company's stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company's stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 410,863 shares of company stock worth $39,344,612. 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.