1,431 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,431 shares of the technology company’s stock, valued at approximately $370,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of 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 purchasing an additional 2,515,864 shares during the period. Schroder Investment Management Group boosted its stake 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 period. International Assets Investment Management LLC boosted its stake in Arista Networks by 25,188.0% during the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock worth $1,445,420,000 after buying an additional 611,312 shares during the period. Assenagon Asset Management S.A. boosted its stake in 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 worth $175,604,000 after buying an additional 556,568 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Arista Networks by 122.1% in the third quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock valued at $151,956,000 after purchasing an additional 454,146 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company 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 report on Wednesday, March 27th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Stock Performance

ANET stock opened at $254.76 on Thursday. The stock has a market capitalization of $79.65 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 2.15 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The stock’s fifty day moving average is $279.08 and its two-hundred day moving average is $246.25.

Arista Networks (NYSE:ANET) last posted 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. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. As a group, analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The shares were 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 through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. Insiders have sold a total of 333,494 shares of company stock worth $95,632,321 over the last ninety days. 18.99% of the stock is currently owned by corporate insiders.

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.