LGT Group Foundation Cuts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

LGT Group Foundation lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,575 shares of the technology company’s stock after selling 7,635 shares during the quarter. LGT Group Foundation’s holdings in Arista Networks were worth $32,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Brookstone Capital Management acquired a new position in shares of Arista Networks during the third quarter worth $1,561,000. Commonwealth Equity Services LLC boosted its stake in Arista Networks by 41.2% in the third quarter. Commonwealth Equity Services LLC now owns 90,691 shares of the technology company’s stock valued at $16,681,000 after acquiring an additional 26,472 shares in the last quarter. Accurate Wealth Management LLC acquired a new position in Arista Networks in the third quarter valued at $242,000. Cambridge Investment Research Advisors Inc. boosted its stake in Arista Networks by 25.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 41,569 shares of the technology company’s stock valued at $7,646,000 after acquiring an additional 8,478 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in Arista Networks in the third quarter valued at $208,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 332,514 shares of company stock valued at $95,369,397. Corporate insiders own 18.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. JMP Securities reiterated a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, KeyCorp increased their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. One equities research 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. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Stock Up 1.4 %

NYSE ANET traded up $3.45 during trading hours on Thursday, hitting $258.66. 488,314 shares of the stock were exchanged, compared to its average volume of 2,439,413. The company has a market cap of $81.12 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The stock has a 50-day moving average of $279.08 and a 200 day moving average of $248.62.

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

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.