Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 94.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,840 shares of the technology company's stock after buying an additional 3,810 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Arista Networks were worth $867,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. AIA Group Ltd raised its holdings in shares of Arista Networks by 118.8% during the 4th quarter. AIA Group Ltd now owns 37,814 shares of the technology company's stock worth $4,180,000 after acquiring an additional 20,528 shares during the period. Wellington Management Group LLP raised its position in shares of Arista Networks by 313.9% during the 4th quarter. Wellington Management Group LLP now owns 11,013,511 shares of the technology company's stock valued at $1,217,323,000 after buying an additional 8,352,816 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Arista Networks by 359.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 92,467 shares of the technology company's stock valued at $10,220,000 after acquiring an additional 72,332 shares during the last quarter. Clearbridge Investments LLC increased its stake in Arista Networks by 288.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,477,237 shares of the technology company's stock worth $163,279,000 after acquiring an additional 1,096,568 shares during the last quarter. Finally, IPG Investment Advisors LLC raised its position in Arista Networks by 294.2% in the fourth quarter. IPG Investment Advisors LLC now owns 16,860 shares of the technology company's stock valued at $1,864,000 after purchasing an additional 12,583 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ANET. Barclays restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares of the company's stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 483,001 shares of company stock valued at $48,220,031. Insiders own 3.54% of the company's stock.

Arista Networks Trading Down 7.3 %

ANET stock traded down $5.84 during trading on Thursday, reaching $74.32. The stock had a trading volume of 7,176,748 shares, compared to its average volume of 8,866,764. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The firm has a fifty day moving average price of $96.46 and a 200 day moving average price of $101.60. The company has a market capitalization of $93.73 billion, a P/E ratio of 33.48, a PEG ratio of 3.10 and a beta of 1.30.

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

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.