Alcosta Capital Management Inc. Purchases 43,948 Shares of Arista Networks, Inc. (NYSE:ANET)

Alcosta Capital Management Inc. grew its position in Arista Networks, Inc. (NYSE:ANET) by 301.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 58,542 shares of the technology company’s stock after buying an additional 43,948 shares during the period. Arista Networks makes up about 3.8% of Alcosta Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding. Alcosta Capital Management Inc.’s holdings in Arista Networks were worth $6,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Arista Networks by 304.2% in the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after purchasing an additional 72,311,318 shares during the last quarter. Geode Capital Management LLC raised its position in Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after buying an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Norges Bank purchased a new stake in shares of Arista Networks during the 4th quarter valued at about $1,397,833,000. Finally, Wellington Management Group LLP grew its stake in shares of Arista Networks by 313.9% in the fourth quarter. Wellington Management Group LLP now owns 11,013,511 shares of the technology company’s stock worth $1,217,323,000 after acquiring an additional 8,352,816 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET opened at $64.28 on Friday. The firm has a market cap of $81.07 billion, a P/E ratio of 28.96, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The company has a 50 day simple moving average of $94.01 and a two-hundred day simple moving average of $101.29.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. 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 90 days, insiders have sold 491,001 shares of company stock valued at $48,840,431. 3.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.00.

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.