American Century Companies Inc. Has $277.05 Million Stake in Arista Networks, Inc. (NYSE:ANET)

American Century Companies Inc. raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 874.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,506,568 shares of the technology company’s stock after buying an additional 2,249,451 shares during the period. American Century Companies Inc. owned about 0.20% of Arista Networks worth $277,051,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its stake 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 during the period. Swedbank AB boosted its stake 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 during the period. Charles Schwab Investment Management Inc. boosted its stake 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 during the period. Amundi boosted 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 boosted its stake 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 during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $83.26 on Friday. The company has a market capitalization of $104.99 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The company’s fifty day moving average price is $102.53 and its 200 day moving average price is $101.60.

Arista Networks (NYSE:ANET) last posted 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. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the sale, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ANET shares. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.