Mindset Wealth Management LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Mindset Wealth Management LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 292.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,986 shares of the technology company's stock after buying an additional 3,716 shares during the quarter. Mindset Wealth Management LLC's holdings in Arista Networks were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp raised its position in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock worth $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Swedbank AB raised its holdings in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company's stock valued at $746,165,000 after acquiring an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company's stock valued at $713,721,000 after acquiring an additional 4,919,882 shares during the last quarter. Amundi grew its holdings in shares of Arista Networks by 196.3% during the fourth quarter. Amundi now owns 6,342,064 shares of the technology company's stock worth $732,493,000 after purchasing an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Arista Networks by 294.1% in the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company's stock worth $678,308,000 after purchasing an additional 4,579,622 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value 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 approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ANET has been the subject of a number of research reports. Evercore ISI boosted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Citigroup raised their price target on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Rosenblatt Securities reissued a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $114.00.

Arista Networks Stock Up 5.3 %

Shares of Arista Networks stock traded up $4.45 during trading on Monday, reaching $87.58. 10,398,418 shares of the stock were exchanged, compared to its average volume of 8,579,403. 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 $110.44 billion, a price-to-earnings ratio of 39.45, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The stock's fifty day moving average is $102.03 and its 200 day moving average is $101.92.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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 firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.