Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 363.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,555 shares of the technology company’s stock after purchasing an additional 129,065 shares during the quarter. Cibc World Markets Corp’s holdings in Arista Networks were worth $18,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares during the last quarter. 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 worth $746,165,000 after purchasing an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arista Networks by 320.0% in 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 purchasing an additional 4,919,882 shares during the last quarter. Amundi grew its stake 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 during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after buying an additional 4,579,622 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

NYSE ANET opened at $85.06 on Tuesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company’s fifty day moving average price is $105.07 and its two-hundred day moving average price is $101.92. The company has a market capitalization of $107.27 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ANET shares. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One equities 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, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $114.00.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by company 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.