Chevy Chase Trust Holdings LLC Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Chevy Chase Trust Holdings LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 292.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,541 shares of the technology company's stock after acquiring an additional 449,088 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Arista Networks were worth $66,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caitlin John LLC increased its position in shares of Arista Networks by 174.7% during 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 in the last quarter. Cranbrook Wealth Management LLC grew 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 worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont increased its position in 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 buying an additional 198 shares during the period. New Millennium Group LLC boosted its holdings in shares of Arista Networks by 300.0% in the fourth 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. Finally, Westside Investment Management Inc. grew its position in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company's stock worth $31,000 after acquiring an additional 253 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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Arista Networks Stock Performance

NYSE:ANET traded down $3.11 during trading hours on Monday, hitting $106.64. The company's stock had a trading volume of 12,211,763 shares, compared to its average volume of 9,228,991. The company has a market capitalization of $134.35 billion, a PE ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The business's 50-day moving average is $113.94 and its two-hundred day moving average is $101.16.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock worth $37,787,297 over the last 90 days. Company insiders own 3.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ANET. UBS Group upped their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a "neutral" rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Barclays lowered their price target on Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company upped their price objective on Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus price target of $107.59.

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.