WCM Investment Management LLC Grows Position in Arista Networks, Inc. (NYSE:ANET)

WCM Investment Management LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,024,220 shares of the technology company's stock after acquiring an additional 16,081 shares during the period. Arista Networks makes up about 2.0% of WCM Investment Management LLC's holdings, making the stock its 17th largest holding. WCM Investment Management LLC owned approximately 0.97% of Arista Networks worth $716,649,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ANET. Larson Financial Group LLC purchased a new position in Arista Networks in the third quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new position in shares of Arista Networks during the third quarter worth $29,000. Hollencrest Capital Management purchased a new position in Arista Networks in the first quarter valued at $30,000. BluePath Capital Management LLC purchased a new position in Arista Networks in the third quarter valued at $33,000. Finally, NBC Securities Inc. purchased a new position in Arista Networks in the third quarter valued at $33,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Down 8.6 %

ANET stock traded down $25.36 on Friday, reaching $271.22. 5,750,478 shares of the company's stock were exchanged, compared to its average volume of 2,304,847. The stock has a fifty day moving average of $281.78 and a 200-day moving average of $242.41. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The firm has a market cap of $84.79 billion, a PE ratio of 41.28, a P/E/G ratio of 2.56 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, equities research analysts predict that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ANET. JMP Securities reiterated a "market outperform" rating and issued a $325.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. boosted their target price on Arista Networks from $297.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday. Oppenheimer reiterated a "market perform" rating on shares of Arista Networks in a research note on Tuesday, February 13th. Evercore ISI reiterated an "outperform" rating and issued a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Finally, Barclays boosted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an "overweight" rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and a consensus target price of $275.59.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company's stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company's stock, valued at $940,922.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company's stock, valued at $940,922.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 18,621 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $257.60, for a total value of $4,796,769.60. Following the sale, the chief executive officer now directly owns 82,766 shares in the company, valued at approximately $21,320,521.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,036 shares of company stock valued at $102,813,921. Insiders own 18.99% of the company's stock.

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.