Arista Networks Inc (NYSE:ANET) Shares Purchased by CWM Advisors LLC

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CWM Advisors LLC grew its position in shares of Arista Networks Inc (NYSE:ANET) by 35.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,640 shares of the technology company’s stock after buying an additional 696 shares during the period. CWM Advisors LLC’s holdings in Arista Networks were worth $537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Arista Networks by 4.7% in the 2nd quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock valued at $1,013,633,000 after buying an additional 174,887 shares during the period. State Street Corp lifted its holdings in Arista Networks by 2.3% in the third quarter. State Street Corp now owns 2,123,287 shares of the technology company’s stock worth $507,296,000 after acquiring an additional 48,455 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in Arista Networks by 147.5% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 460,100 shares of the technology company’s stock worth $119,451,000 after acquiring an additional 274,175 shares during the last quarter. Parnassus Investments CA bought a new position in Arista Networks in the third quarter worth about $65,990,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Arista Networks by 21.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 245,640 shares of the technology company’s stock valued at $58,688,000 after acquiring an additional 43,728 shares during the period. Institutional investors own 59.65% of the company’s stock.

In related news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $181.52, for a total transaction of $363,040.00. Following the sale, the senior vice president now owns 11,396 shares of the company’s stock, valued at $2,068,601.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel Scheinman sold 9,333 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $220.06, for a total value of $2,053,819.98. Following the completion of the sale, the director now owns 15,606 shares of the company’s stock, valued at $3,434,256.36. The disclosure for this sale can be found here. Insiders sold a total of 52,646 shares of company stock valued at $10,565,871 in the last quarter. 23.83% of the stock is currently owned by insiders.

Several equities analysts have recently commented on ANET shares. JPMorgan Chase & Co. lowered Arista Networks from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $290.00 to $180.00 in a report on Friday, November 1st. Credit Suisse Group downgraded Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 price target on the stock. in a report on Friday, November 1st. UBS Group reduced their price objective on Arista Networks from $285.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wolfe Research lowered their price objective on Arista Networks from $270.00 to $200.00 and set a “peer perform” rating for the company in a research note on Friday, November 1st. Finally, MKM Partners dropped their target price on Arista Networks from $275.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. Arista Networks presently has an average rating of “Hold” and an average price target of $227.72.

Shares of ANET opened at $238.05 on Friday. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.47 and a current ratio of 5.91. Arista Networks Inc has a one year low of $173.31 and a one year high of $331.27. The stock’s fifty day moving average is $205.75 and its 200-day moving average is $225.45.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.50. The business had revenue of $654.40 million for the quarter, compared to analysts’ expectations of $653.26 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. The company’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 earnings per share. Analysts forecast that Arista Networks Inc will post 8.56 EPS for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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