Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC boosted its position in Arista Networks, Inc. (NYSE:ANET) by 320.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,203 shares of the technology company’s stock after purchasing an additional 7,774 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Arista Networks were worth $1,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB increased its position in shares of 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. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 4,579,622 shares during the period. WCM Investment Management LLC boosted its stake in Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after acquiring an additional 4,512,166 shares during the period. DSM Capital Partners LLC boosted its stake in Arista Networks by 259.7% in the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock valued at $573,527,000 after acquiring an additional 3,746,407 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after buying an additional 3,496,497 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of 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 trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 431,441 shares of company stock worth $45,713,162. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ANET shares. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. UBS Group upped their price target on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Trading Down 7.9 %

Shares of NYSE ANET opened at $85.74 on Tuesday. The company has a market capitalization of $108.13 billion, a P/E ratio of 38.62, a P/E/G ratio of 3.10 and a beta of 1.09. The stock has a 50 day moving average of $111.25 and a 200-day moving average of $102.27. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.