Arista Networks, Inc. (NYSE:ANET) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp increased its stake in Arista Networks, Inc. (NYSE:ANET) by 363.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 164,555 shares of the technology company’s stock after buying an additional 129,065 shares during the quarter. Cibc World Markets Corp’s holdings in Arista Networks were worth $18,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of Arista Networks in the 3rd quarter worth approximately $44,000. True Wealth Design LLC lifted its position in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC boosted its stake in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Arista Networks by 52.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after purchasing an additional 63 shares during the period. Finally, Caitlin John LLC raised its stake in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several research reports. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, Evercore ISI raised their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Up 1.9 %

Shares of NYSE:ANET opened at $85.06 on Tuesday. The firm has a market cap of $107.27 billion, a price-to-earnings ratio of 38.32, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The business has a fifty day simple moving average of $105.07 and a 200 day simple moving average of $101.92.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the sale, the director now directly owns 147,784 shares of the company’s stock, valued at $13,157,209.52. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock worth $49,112,111 over the last ninety days. 3.54% of the stock is currently owned by 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.