Ameriprise Financial Inc. Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Ameriprise Financial Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 289.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,875,759 shares of the technology company's stock after purchasing an additional 5,851,653 shares during the quarter. Ameriprise Financial Inc. owned about 0.63% of Arista Networks worth $870,513,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ANET. Caitlin John LLC lifted its holdings in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 195 shares during the period. Institutional investors own 82.47% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of analyst reports. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Evercore ISI dropped their target price on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Citigroup reduced their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.36.

Insider Transactions at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,355 shares of company stock valued at $39,446,799 in the last 90 days. Insiders own 3.54% of the company's stock.

Arista Networks Stock Up 3.7 %

Shares of NYSE:ANET opened at $91.08 on Friday. The company has a market capitalization of $114.36 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The firm has a 50 day moving average of $79.15 and a 200 day moving average of $97.72. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks 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.

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