Price T Rowe Associates Inc. MD Has $442.87 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Price T Rowe Associates Inc. MD raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 392.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,006,737 shares of the technology company's stock after purchasing an additional 3,192,328 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.32% of Arista Networks worth $442,866,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 304.2% in the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after purchasing 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 purchasing an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC grew its stake in Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after purchasing an additional 18,293,874 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Arista Networks by 218.5% in the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after buying an additional 14,454,822 shares during the last quarter. Finally, Norges Bank acquired a new stake in Arista Networks during the fourth quarter valued at approximately $1,397,833,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities upgraded Arista Networks from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $55.00 to $85.00 in a research report on Tuesday. Citigroup cut their price objective on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.43.

Insider Activity

In other news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the sale, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,355 shares of company stock valued at $39,446,799. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $1.47 during mid-day trading on Tuesday, hitting $79.78. The stock had a trading volume of 4,704,070 shares, compared to its average volume of 9,075,102. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The company has a market cap of $100.18 billion, a PE ratio of 35.97, a P/E/G ratio of 3.10 and a beta of 1.30. The company's 50 day moving average is $80.06 and its 200-day moving average is $98.13.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.