Sciencast Management LP Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Sciencast Management LP grew its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 951.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,826 shares of the technology company's stock after buying an additional 7,082 shares during the quarter. Sciencast Management LP's holdings in Arista Networks were worth $865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caitlin John LLC raised its position in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the period. Institutional investors own 82.47% of the company's stock.

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Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Barclays reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Stock Down 6.0 %

ANET stock traded down $5.24 during trading on Wednesday, reaching $81.70. The company's stock had a trading volume of 14,150,034 shares, compared to its average volume of 8,586,443. The company's fifty day moving average is $101.47 and its 200-day moving average is $101.98. The company has a market capitalization of $103.04 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating 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. Analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.