Capital International Ltd. CA Has $10.89 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Capital International Ltd. CA increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 147.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,511 shares of the technology company’s stock after acquiring an additional 58,645 shares during the quarter. Capital International Ltd. CA’s holdings in Arista Networks were worth $10,888,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after purchasing an additional 72,311,318 shares during the period. FMR LLC lifted its holdings in shares of Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after buying an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Alliancebernstein L.P. grew its stake in shares of Arista Networks by 218.5% in the fourth 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 in the last quarter. Finally, Norges Bank bought a new position in Arista Networks during the fourth quarter worth about $1,397,833,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 1.1 %

Shares of ANET stock opened at $71.11 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The stock has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.10 and a beta of 1.30. The stock has a 50-day moving average of $85.15 and a 200-day moving average of $99.44.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of a number of analyst reports. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Morgan Stanley lowered their target price on Arista Networks from $118.00 to $73.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. 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 stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $106.07.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the sale, the director now owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The transaction 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 the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock valued at $39,364,943 over the last quarter. Insiders own 3.54% of the company’s stock.

About Arista Networks

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.