Citizens Financial Group Inc. RI Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Citizens Financial Group Inc. RI lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 2,668.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,839 shares of the technology company's stock after purchasing an additional 77,919 shares during the period. Citizens Financial Group Inc. RI's holdings in Arista Networks were worth $8,935,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the 4th quarter worth about $242,000. GHE LLC boosted its position in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company's stock valued at $3,136,000 after buying an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its stake in shares of Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after acquiring an additional 7,466 shares in the last quarter. Unified Investment Management bought a new stake in Arista Networks in the 4th quarter worth about $630,000. Finally, Silver Oak Securities Incorporated increased its position in shares of Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock valued at $2,072,000 after acquiring an additional 14,843 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 in the last quarter. Company insiders own 3.54% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ANET shares. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Rosenblatt Securities reissued a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Stock Down 0.2 %

Shares of ANET traded down $0.15 during trading hours on Thursday, hitting $80.11. The company had a trading volume of 6,964,869 shares, compared to its average volume of 8,729,240. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58. The stock's 50 day moving average price is $106.38 and its 200 day moving average price is $101.73. The firm has a market cap of $101.02 billion, a P/E ratio of 36.08, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly 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. The business 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%. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.