Cambridge Trust Co. Grows Stock Position in Arista Networks, Inc. (NYSE:ANET)

Cambridge Trust Co. raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,922 shares of the technology company’s stock after acquiring an additional 2,667 shares during the quarter. Cambridge Trust Co.’s holdings in Arista Networks were worth $12,464,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ANET. AXQ Capital LP bought a new position in Arista Networks in the 3rd quarter worth $791,000. Advisor Resource Council increased its stake in Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after buying an additional 5,866 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Arista Networks by 4.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after buying an additional 194 shares in the last quarter. WCM Investment Management LLC increased its stake in Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its stake in Arista Networks by 7.1% in the 3rd quarter. Banque Pictet & Cie SA now owns 5,617 shares of the technology company’s stock worth $1,033,000 after buying an additional 374 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Down 0.7 %

ANET stock traded down $1.90 during trading on Thursday, hitting $257.37. 1,385,464 shares of the company’s stock traded hands, compared to its average volume of 2,442,379. The firm has a market capitalization of $80.46 billion, a P/E ratio of 39.49, a PEG 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. The business has a fifty day simple moving average of $281.39 and a two-hundred day simple moving average of $244.06.

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, equities research analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 8,002 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78. Following the completion of the transaction, the chief executive officer now owns 74,764 shares in the company, valued at $19,991,145.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Jayshree Ullal sold 8,002 shares of the business’s 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 completion of the sale, the chief executive officer now owns 74,764 shares of the company’s stock, valued at $19,991,145.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 342,415 shares of company stock worth $98,017,152. Company insiders own 18.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ANET shares. Wells Fargo & Company raised their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. The Goldman Sachs Group raised their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

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.