Arista Networks, Inc. (NYSE:ANET) Shares Acquired by WCM Investment Management LLC

WCM Investment Management LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 292.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,053,181 shares of the technology company’s stock after purchasing an additional 4,512,166 shares during the quarter. Arista Networks accounts for approximately 1.6% of WCM Investment Management LLC’s holdings, making the stock its 25th biggest position. WCM Investment Management LLC owned approximately 0.48% of Arista Networks worth $674,627,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in Arista Networks in the third quarter worth $44,000. HM Payson & Co. boosted its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC boosted its stake in Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the last quarter. Anchor Investment Management LLC boosted its stake in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in Arista Networks by 186.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after buying an additional 93 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Up 2.8 %

Shares of NYSE ANET opened at $118.52 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The company has a market capitalization of $149.31 billion, a price-to-earnings ratio of 56.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The business has a 50 day simple moving average of $113.21 and a 200-day simple moving average of $99.81.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays reduced their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group boosted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the completion of the transaction, the insider now owns 288 shares in the company, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is owned by company insiders.

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.