Arista Networks, Inc. (NYSE:ANET) Shares Acquired by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 337.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,418 shares of the technology company's stock after acquiring an additional 37,352 shares during the period. EFG Asset Management North America Corp.'s holdings in Arista Networks were worth $5,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Arista Networks in the third quarter worth approximately $1,417,000. Eagle Asset Management Inc. increased its stake in Arista Networks by 21.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 16,130 shares of the technology company's stock worth $6,459,000 after buying an additional 2,807 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Arista Networks by 2.9% during the third quarter. Raymond James Trust N.A. now owns 2,538 shares of the technology company's stock valued at $974,000 after acquiring an additional 71 shares during the period. Cerity Partners LLC lifted its position in shares of Arista Networks by 50.4% in the third quarter. Cerity Partners LLC now owns 33,454 shares of the technology company's stock valued at $12,409,000 after acquiring an additional 11,216 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Arista Networks by 1.5% in the third quarter. Kingsview Wealth Management LLC now owns 4,169 shares of the technology company's stock worth $1,600,000 after acquiring an additional 63 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, SVP Marc Taxay sold 51,848 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were 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 of the company's stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,001 shares of company stock worth $49,112,111. Corporate insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

ANET traded down $0.64 during trading on Tuesday, hitting $86.87. 7,776,843 shares of the stock were exchanged, compared to its average volume of 8,572,881. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm has a market cap of $109.55 billion, a price-to-earnings ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. The firm has a 50 day simple moving average of $101.47 and a 200 day simple moving average of $101.98.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on ANET. Barclays reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, Citigroup lifted their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

About Arista Networks

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.