Brown Brothers Harriman & Co. Has $50.25 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Brown Brothers Harriman & Co. grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 334.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 454,610 shares of the technology company’s stock after acquiring an additional 349,889 shares during the period. Brown Brothers Harriman & Co.’s holdings in Arista Networks were worth $50,248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Caitlin John LLC lifted its holdings in Arista Networks by 174.7% during the 4th 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 fourth 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 during the period. Cranbrook Wealth Management LLC lifted 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 worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC boosted its holdings in shares of Arista Networks by 300.0% during the 4th 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 period. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ANET has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup increased their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Trading Down 1.3 %

NYSE ANET opened at $77.91 on Friday. The firm’s 50 day simple moving average is $99.16 and its 200 day simple moving average is $101.66. The firm has a market capitalization of $98.25 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last 90 days. Insiders own 3.54% of the company’s stock.

About Arista Networks

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.