Massachusetts Financial Services Co. MA Has $146.97 Million Position in Arista Networks, Inc. (NYSE:ANET)

Massachusetts Financial Services Co. MA lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 345.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,329,652 shares of the technology company’s stock after acquiring an additional 1,031,351 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Arista Networks were worth $146,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Advisory Services Inc. increased its position in Arista Networks by 312.3% in the 4th quarter. Meeder Advisory Services Inc. now owns 22,729 shares of the technology company’s stock worth $2,512,000 after purchasing an additional 17,216 shares during the last quarter. Groupama Asset Managment grew its stake in shares of Arista Networks by 408.3% in the 4th quarter. Groupama Asset Managment now owns 55,808 shares of the technology company’s stock valued at $6,220,000 after buying an additional 44,828 shares in the last quarter. Front Row Advisors LLC increased its holdings in Arista Networks by 307.7% in the fourth quarter. Front Row Advisors LLC now owns 21,476 shares of the technology company’s stock worth $2,374,000 after buying an additional 16,209 shares during the last quarter. Trexquant Investment LP raised its position in Arista Networks by 287.6% during the fourth quarter. Trexquant Investment LP now owns 277,583 shares of the technology company’s stock valued at $30,681,000 after acquiring an additional 205,971 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,001 shares of company stock worth $48,840,431. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE:ANET opened at $64.28 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The company has a fifty day moving average price of $94.01 and a 200 day moving average price of $101.21. The stock has a market cap of $81.07 billion, a P/E ratio of 28.96, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating 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 business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.