Cwm LLC Has $3.49 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Cwm LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 12.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,833 shares of the technology company’s stock after buying an additional 1,664 shares during the period. Cwm LLC’s holdings in Arista Networks were worth $3,493,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Arista Networks by 0.3% in the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after buying an additional 84,212 shares during the period. FMR LLC raised its position in shares of Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. WCM Investment Management LLC raised its position in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after purchasing an additional 16,081 shares during the period. Northern Trust Corp raised its position in shares of Arista Networks by 5.0% during the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock worth $442,120,000 after purchasing an additional 114,978 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Arista Networks by 31.6% during the third quarter. Jennison Associates LLC now owns 1,792,867 shares of the technology company’s stock worth $329,762,000 after purchasing an additional 430,309 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.4 %

NYSE:ANET opened at $254.76 on Thursday. The stock has a market cap of $79.65 billion, a P/E ratio of 38.78, a PEG ratio of 2.10 and a beta of 1.09. The stock has a 50 day simple moving average of $279.08 and a 200 day simple moving average of $246.25. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 980 shares of Arista Networks stock in a transaction on Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the completion of the transaction, the chief executive officer now directly owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 333,494 shares of company stock valued at $95,632,321. Insiders own 18.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ANET shares. KeyCorp lifted their target price on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Wells Fargo & Company lifted their target price on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Morgan Stanley lifted their target price on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research report on Friday, April 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.59.

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.