Sterling Capital Management LLC Acquires 33,554 Shares of Arista Networks, Inc. (NYSE:ANET)

Sterling Capital Management LLC grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 327.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,790 shares of the technology company's stock after acquiring an additional 33,554 shares during the quarter. Sterling Capital Management LLC's holdings in Arista Networks were worth $4,840,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Anchor Investment Management LLC raised its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after purchasing an additional 35 shares during the last quarter. Caitlin John LLC lifted its stake in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the period. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of 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 last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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Arista Networks Stock Down 0.6 %

ANET stock traded down $0.42 during trading on Tuesday, reaching $73.17. The company's stock had a trading volume of 9,100,358 shares, compared to its average volume of 9,127,096. The company's fifty day moving average is $87.90 and its 200-day moving average is $99.99. The company has a market capitalization of $92.27 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results 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 firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ANET. Evercore ISI cut their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday. Citigroup reduced their price objective on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday. Rosenblatt Securities reissued a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Morgan Stanley lowered their price objective on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $104.29.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company's stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,031 shares of company stock worth $39,364,943 over the last quarter. Insiders own 3.54% of the company's stock.

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.