976 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Trust Investment Advisors

Trust Investment Advisors purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 976 shares of the technology company’s stock, valued at approximately $230,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Arista Networks by 0.3% in the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after buying an additional 84,212 shares in the last quarter. FMR LLC increased its stake in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. State Street Corp raised its holdings in shares of Arista Networks by 3.2% during the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock worth $1,677,231,000 after acquiring an additional 313,036 shares in the last quarter. Morgan Stanley boosted its position in shares of Arista Networks by 162.2% during the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after acquiring an additional 3,432,952 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Arista Networks by 1.8% in the first quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after purchasing an additional 91,829 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 0.8 %

NYSE ANET traded down $2.08 on Thursday, hitting $257.19. 1,936,573 shares of the company’s stock traded hands, compared to its average volume of 2,450,550. The firm’s 50-day moving average price is $281.39 and its two-hundred day moving average price is $244.06. The firm has a market capitalization of $80.41 billion, a PE ratio of 39.49, a P/E/G ratio of 2.24 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. On average, research analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jayshree Ullal sold 8,002 shares of Arista Networks stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $267.39, for a total transaction of $2,139,654.78. Following the completion of the transaction, the chief executive officer now directly owns 74,764 shares in the company, valued at $19,991,145.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 8,002 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $267.39, for a total transaction of $2,139,654.78. Following the sale, the chief executive officer now directly owns 74,764 shares of the company’s stock, valued at approximately $19,991,145.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the transaction, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The disclosure for this sale can be found here. Insiders sold a total of 342,415 shares of company stock valued at $98,017,152 in the last quarter. 18.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. Morgan Stanley boosted their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Barclays increased their price target on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

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.