Arista Networks, Inc. (NYSE:ANET) Stock Position Trimmed by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC trimmed its position in Arista Networks, Inc. (NYSE:ANET) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,979 shares of the technology company’s stock after selling 3,219 shares during the quarter. Arista Networks comprises 1.7% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 10th largest position. Clifford Swan Investment Counsel LLC owned approximately 0.06% of Arista Networks worth $44,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings in Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after acquiring an additional 2,515,864 shares during the period. Schroder Investment Management Group lifted its stake in shares of Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after purchasing an additional 1,025,815 shares during the period. International Assets Investment Management LLC boosted its holdings in Arista Networks by 25,188.0% during the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock worth $1,445,420,000 after buying an additional 611,312 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Arista Networks by 294.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after buying an additional 556,568 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Arista Networks by 122.1% in the third quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock valued at $151,956,000 after buying an additional 454,146 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $285.53.

Arista Networks Trading Up 4.8 %

NYSE ANET traded up $12.54 on Friday, reaching $274.40. 2,883,651 shares of the company were exchanged, compared to its average volume of 2,426,995. The business’s fifty day moving average price is $279.07 and its 200 day moving average price is $250.02. The stock has a market capitalization of $85.79 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. Equities research analysts forecast that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s 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 directly owns 60,946 shares in the company, valued at $17,462,247.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. Insiders sold 335,974 shares of company stock worth $96,252,685 in the last 90 days. Insiders own 18.99% of the company’s stock.

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.