Stephens Inc. AR Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Stephens Inc. AR increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 318.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,503 shares of the technology company’s stock after acquiring an additional 8,752 shares during the quarter. Stephens Inc. AR’s holdings in Arista Networks were worth $1,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares during the last quarter. Swedbank AB grew its position in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the period. WCM Investment Management LLC increased 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 worth $674,627,000 after acquiring an additional 4,512,166 shares during the last quarter. Geode Capital Management LLC increased its stake in Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after acquiring an additional 236,151 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $109.61 on Thursday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market capitalization of $138.08 billion, a P/E ratio of 52.70, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50-day moving average is $113.83 and its two-hundred day moving average is $100.59.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock valued at $37,787,297 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ANET has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Evercore ISI lifted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Rosenblatt Securities boosted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

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.