Knights of Columbus Asset Advisors LLC Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Knights of Columbus Asset Advisors LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 349.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 35,724 shares of the technology company’s stock after acquiring an additional 27,770 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Arista Networks were worth $3,949,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ANET. AXQ Capital LP raised its position in Arista Networks by 135.9% in the 4th quarter. AXQ Capital LP now owns 8,006 shares of the technology company’s stock worth $885,000 after buying an additional 4,612 shares during the last quarter. Marietta Investment Partners LLC boosted its stake in shares of Arista Networks by 299.3% in the fourth quarter. Marietta Investment Partners LLC now owns 112,964 shares of the technology company’s stock worth $12,486,000 after acquiring an additional 84,671 shares during the period. Sei Investments Co. grew its position in shares of Arista Networks by 284.7% during the fourth quarter. Sei Investments Co. now owns 1,475,850 shares of the technology company’s stock worth $163,123,000 after purchasing an additional 1,092,258 shares in the last quarter. American Century Companies Inc. grew its position in shares of Arista Networks by 874.9% during the fourth quarter. American Century Companies Inc. now owns 2,506,568 shares of the technology company’s stock worth $277,051,000 after purchasing an additional 2,249,451 shares in the last quarter. Finally, Vestor Capital LLC grew its holdings in Arista Networks by 15,763.8% during the 4th quarter. Vestor Capital LLC now owns 117,075 shares of the technology company’s stock valued at $12,940,000 after buying an additional 116,337 shares in the last quarter. Institutional investors 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 shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 0.3 %

Shares of NYSE:ANET opened at $83.26 on Friday. The company has a 50-day moving average price of $102.53 and a 200 day moving average price of $101.60. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The company has a market cap of $104.99 billion, a P/E ratio of 37.50, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ANET shares. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.