Evercore Wealth Management LLC Acquires 5,481 Shares of Arista Networks, Inc. (NYSE:ANET)

Evercore Wealth Management LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,307 shares of the technology company's stock after buying an additional 5,481 shares during the period. Evercore Wealth Management LLC's holdings in Arista Networks were worth $808,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC raised its stake in shares of Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after buying an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Alliancebernstein L.P. boosted its position in shares of Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares in the last quarter. Finally, Norges Bank bought a new stake in Arista Networks in the fourth quarter valued at about $1,397,833,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup lowered their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Rosenblatt Securities cut their price target on shares of Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. This represents a 16.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 412,355 shares of company stock valued at $39,446,799. Company insiders own 3.54% of the company's stock.

Arista Networks Trading Down 0.0 %

Shares of ANET traded down $0.03 during trading hours on Monday, hitting $77.88. 3,273,419 shares of the stock traded hands, compared to its average volume of 9,076,112. The business has a fifty day moving average of $80.57 and a 200-day moving average of $98.31. The firm has a market capitalization of $97.79 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal 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.