Arista Networks, Inc. (NYSE:ANET) Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 304.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,719 shares of the technology company’s stock after buying an additional 104,392 shares during the period. New York Life Investment Management LLC’s holdings in Arista Networks were worth $15,333,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its position 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 in the last quarter. Cranbrook Wealth Management LLC boosted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC increased its stake in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.14, for a total value of $1,623,709.62. Following the transaction, the insider now directly owns 17,433 shares in the company, valued at $1,623,709.62. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 416,008 shares of company stock worth $44,854,958. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ANET shares. UBS Group increased their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price target on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Barclays upped their price objective on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Price Performance

NYSE:ANET opened at $96.43 on Thursday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The business has a 50 day simple moving average of $112.54 and a 200 day simple moving average of $102.09. The firm has a market capitalization of $121.61 billion, a P/E ratio of 43.44, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly 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. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Research analysts anticipate 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.