Wealth High Governance Capital Ltda Purchases 19,600 Shares of Arista Networks, Inc. (NYSE:ANET)

Wealth High Governance Capital Ltda raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 65.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,600 shares of the technology company’s stock after purchasing an additional 19,600 shares during the quarter. Arista Networks accounts for approximately 2.0% of Wealth High Governance Capital Ltda’s holdings, making the stock its 25th biggest position. Wealth High Governance Capital Ltda’s holdings in Arista Networks were worth $5,482,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. State Street Corp lifted its position 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 valued at $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Swedbank AB lifted its position in shares of Arista Networks by 293.2% during the 4th 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. lifted its position in shares of Arista Networks by 320.0% during the 4th 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. Amundi lifted its position in shares of Arista Networks by 196.3% during the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after buying an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Arista Networks by 294.1% during the 4th 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. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on ANET shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. 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. Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Up 1.9 %

Shares of ANET opened at $79.07 on Wednesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The stock’s 50 day moving average is $107.62 and its two-hundred day moving average is $102.03. The firm has a market cap of $99.72 billion, a P/E ratio of 35.62, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating 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%. Equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.