Certuity LLC Buys 2,201 Shares of Arista Networks, Inc. (NYSE:ANET)

Certuity LLC boosted its position in Arista Networks, Inc. (NYSE:ANET) by 34.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,534 shares of the technology company’s stock after buying an additional 2,201 shares during the period. Certuity LLC’s holdings in Arista Networks were worth $2,010,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ANET. FMR LLC grew its stake 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 raised its holdings in Arista Networks by 439.3% during the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after buying an additional 1,025,815 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Arista Networks by 25,188.0% in the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after buying an additional 611,312 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of 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 last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Arista Networks by 122.1% during 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 during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 22,000 shares of Arista Networks stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,665,300 shares in the company, valued at approximately $504,585,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the completion of the transaction, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The disclosure for this sale can be found here. Insiders sold 332,514 shares of company stock worth $95,369,397 over the last quarter. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET traded down $3.27 during trading hours on Tuesday, reaching $260.40. The stock had a trading volume of 922,841 shares, compared to its average volume of 2,451,516. The stock has a market cap of $81.66 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. The stock has a 50 day simple moving average of $279.13 and a 200 day simple moving average of $248.11. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays lifted their price target on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company increased their price target on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

About Arista Networks

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.