Lincoln National Corp Has $3.97 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Lincoln National Corp increased its position in Arista Networks, Inc. (NYSE:ANET) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 16,875 shares of the technology company’s stock after buying an additional 648 shares during the quarter. Lincoln National Corp’s holdings in Arista Networks were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after acquiring an additional 1,025,815 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Arista Networks by 25,188.0% during the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after purchasing an additional 611,312 shares in the last quarter. Assenagon Asset Management S.A. boosted its position 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 worth $175,604,000 after purchasing an additional 556,568 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Arista Networks by 122.1% in the 3rd 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 period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 1.7 %

Shares of NYSE:ANET traded down $4.85 on Tuesday, reaching $273.97. 4,044,673 shares of the company’s stock were exchanged, compared to its average volume of 2,468,249. Arista Networks, Inc. has a twelve month low of $133.42 and a twelve month high of $307.74. The company has a fifty day moving average of $279.18 and a 200-day moving average of $250.63. The company has a market capitalization of $85.65 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $1.25 earnings per share. As a group, equities research analysts forecast that Arista Networks, Inc. will post 6.74 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $258.77, for a total value of $388,155.00. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $4,575,312.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John F. Mccool sold 416 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $300.96, for a total value of $125,199.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $258.77, for a total transaction of $388,155.00. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,575,312.37. The disclosure for this sale can be found here. Insiders sold a total of 337,474 shares of company stock valued at $96,640,840 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ANET has been the subject of several recent analyst reports. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. JMP Securities restated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. The Goldman Sachs Group upped their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Rosenblatt Securities restated a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. Finally, KeyCorp upped their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.53.

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.