Intech Investment Management LLC Has $11.97 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Intech Investment Management LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 210.2% in the fourth quarter, Holdings Channel reports. The fund owned 108,313 shares of the technology company’s stock after acquiring an additional 73,393 shares during the period. Intech Investment Management LLC’s holdings in Arista Networks were worth $11,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Generali Asset Management SPA SGR acquired a new position in Arista Networks in the fourth quarter worth about $9,158,000. Evoke Wealth LLC raised its position in Arista Networks by 377.4% in the fourth quarter. Evoke Wealth LLC now owns 3,447 shares of the technology company’s stock worth $381,000 after purchasing an additional 2,725 shares in the last quarter. Horizon Investments LLC raised its position in Arista Networks by 544.6% in the fourth quarter. Horizon Investments LLC now owns 45,376 shares of the technology company’s stock worth $5,015,000 after purchasing an additional 38,337 shares in the last quarter. Advisors Asset Management Inc. raised its position in Arista Networks by 324.9% in the fourth quarter. Advisors Asset Management Inc. now owns 82,871 shares of the technology company’s stock worth $9,160,000 after purchasing an additional 63,367 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Arista Networks by 357.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 392,497 shares of the technology company’s stock worth $43,383,000 after purchasing an additional 306,746 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET opened at $85.06 on Tuesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The company’s 50 day simple moving average is $105.07 and its 200-day simple moving average is $101.92. The stock has a market capitalization of $107.27 billion, a P/E ratio of 38.32, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released 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 net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on ANET shares. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Citigroup upped their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by insiders.

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.