Whittier Trust Co. of Nevada Inc. Has $1.57 Million Position in Arista Networks, Inc. (NYSE:ANET)

Whittier Trust Co. of Nevada Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 299.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,181 shares of the technology company's stock after purchasing an additional 10,633 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Arista Networks were worth $1,567,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ANET. State Street Corp boosted its stake in Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock worth $4,313,229,000 after purchasing an additional 411,109 shares during the last quarter. Swedbank AB increased its stake in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company's stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Arista Networks by 320.0% in 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 buying an additional 4,919,882 shares during the period. Amundi raised its stake in shares of Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company's stock valued at $732,493,000 after acquiring an additional 4,201,973 shares during the period. Finally, Bank of New York Mellon Corp raised its position in 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 valued at $678,308,000 after purchasing an additional 4,579,622 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. 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 accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares of the company's stock, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 over the last quarter. Company insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their price target for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Citigroup increased their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, Needham & Company LLC restated a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $114.00.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $0.64 during trading hours on Tuesday, hitting $86.87. The stock had a trading volume of 7,776,843 shares, compared to its average volume of 8,568,825. The stock's fifty day simple moving average is $101.47 and its 200 day simple moving average is $101.98. The firm has a market capitalization of $109.55 billion, a price-to-earnings ratio of 39.13, a PEG 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 released its earnings results 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. 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 the consensus estimate of $1.90 billion. As a group, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS 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.