Cohen Capital Management Inc. Invests $226,000 in Arista Networks, Inc. (NYSE:ANET)

Cohen Capital Management Inc. bought a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,048 shares of the technology company’s stock, valued at approximately $226,000.

A number of other institutional investors have also added to or reduced their stakes in ANET. State Street Corp grew its position in shares of Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the period. Swedbank AB boosted its stake in shares of Arista Networks by 293.2% during the 4th 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 period. WCM Investment Management LLC increased its holdings in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares during the last quarter. Geode Capital Management LLC raised its stake in Arista Networks by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after acquiring an additional 236,151 shares during the period. Finally, DSM Capital Partners LLC lifted its holdings in Arista Networks by 259.7% during the 4th quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock valued at $573,527,000 after purchasing an additional 3,746,407 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on ANET shares. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup upped their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday. Finally, Barclays upped their price objective on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $98.31 on Friday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The company has a market capitalization of $123.97 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company has a fifty day moving average of $113.66 and a 200-day moving average of $101.85.

Arista Networks (NYSE:ANET) last posted its 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 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. On average, equities analysts forecast that Arista Networks, Inc. will post 2.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,056 shares of company stock valued at $30,225,623 in the last ninety days. 3.54% of the stock is currently owned by insiders.

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.