Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 301.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,945 shares of the technology company’s stock after purchasing an additional 11,225 shares during the quarter. Lindbrook Capital LLC’s holdings in Arista Networks were worth $1,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. Swedbank AB raised its stake in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after buying an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Arista Networks by 320.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after buying an additional 4,919,882 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Arista Networks by 294.1% during 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 buying an additional 4,579,622 shares in the last quarter. WCM Investment Management LLC raised its stake in Arista Networks by 292.8% during 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 buying an additional 4,512,166 shares in the last quarter. Finally, DSM Capital Partners LLC raised its stake in Arista Networks by 259.7% during 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 buying an additional 3,746,407 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET opened at $87.83 on Thursday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock has a market cap of $110.76 billion, a P/E ratio of 39.56, a P/E/G ratio of 3.10 and a beta of 1.09. The stock’s 50 day moving average price is $110.13 and its 200 day moving average price is $102.14.

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, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Barclays increased their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction 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 transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,289 shares of company stock valued at $51,018,617. 3.54% of the stock is owned by corporate insiders.

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.