Timucuan Asset Management Inc. FL Acquires 876,106 Shares of Arista Networks, Inc. (NYSE:ANET)

Timucuan Asset Management Inc. FL lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 299.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,168,603 shares of the technology company's stock after buying an additional 876,106 shares during the period. Arista Networks accounts for approximately 4.0% of Timucuan Asset Management Inc. FL's holdings, making the stock its 15th biggest position. Timucuan Asset Management Inc. FL owned 0.09% of Arista Networks worth $129,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. Caitlin John LLC grew 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 purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in 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 in the last quarter. Cranbrook Wealth Management LLC boosted its position in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont increased its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and lifted their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Morgan Stanley dropped their price objective on 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 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.50.

Arista Networks Price Performance

NYSE ANET traded down $0.15 on Friday, hitting $72.50. 11,224,936 shares of the company were exchanged, compared to its average volume of 9,149,886. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The company's 50 day moving average price is $88.74 and its 200-day moving average price is $100.12. The firm has a market capitalization of $91.43 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now owns 155,784 shares of the company's stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock valued at $39,364,943 over the last quarter. Company insiders own 3.54% of the company's stock.

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.