Mercer Global Advisors Inc. ADV Purchases New Shares in Arista Networks, Inc. (NYSE:ANET)

Mercer Global Advisors Inc. ADV purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 129,468 shares of the technology company's stock, valued at approximately $14,310,000.

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

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company's stock, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks 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 sale, the director now directly owns 7,480 shares of the company's stock, valued at approximately $512,305.20. This represents a 16.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $39,446,799 in the last ninety days. Corporate insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and increased their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Evercore ISI lowered their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley raised their price target on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and a consensus target price of $108.36.

Arista Networks Stock Performance

ANET stock opened at $91.08 on Friday. The firm has a 50-day simple moving average of $79.15 and a two-hundred day simple moving average of $97.75. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market cap of $114.36 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate 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 analysts predict 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.

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