Arista Networks, Inc. (NYSE:ANET) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 385.8% during the fourth quarter, Holdings Channel reports. The firm owned 5,353 shares of the technology company’s stock after acquiring an additional 4,251 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Arista Networks were worth $592,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares in the last quarter. Swedbank AB lifted 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 worth $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC lifted 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 purchasing an additional 4,512,166 shares in the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 236,151 shares in the last quarter. Finally, DSM Capital Partners LLC lifted 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 worth $573,527,000 after purchasing an additional 3,746,407 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

Shares of ANET stock opened at $92.85 on Wednesday. The stock’s 50-day moving average is $112.78 and its two-hundred day moving average is $102.13. The firm has a market cap of $117.10 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for 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%. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 260,224 shares of company stock valued at $30,242,856. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group increased their price objective on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Company 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.