Keybank National Association OH Purchases 112,611 Shares of Arista Networks, Inc. (NYSE:ANET)

Keybank National Association OH lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 304.3% in the fourth quarter, HoldingsChannel reports. The fund owned 149,620 shares of the technology company’s stock after buying an additional 112,611 shares during the period. Keybank National Association OH’s holdings in Arista Networks were worth $16,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its holdings in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after buying an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after acquiring an additional 4,919,882 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares during the period. WCM Investment Management LLC boosted its position in shares of Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after purchasing an additional 4,512,166 shares during the last quarter. Finally, DSM Capital Partners LLC grew its stake in shares of Arista Networks by 259.7% during the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after purchasing an additional 3,746,407 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 431,441 shares of company stock worth $45,713,162 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 0.9 %

ANET stock opened at $85.26 on Wednesday. The stock has a 50-day moving average price of $110.66 and a two-hundred day moving average price of $102.25. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The stock has a market cap of $107.53 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business 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, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ANET shares. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group increased their price target on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Barclays boosted their price target on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.79.

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.