TD Asset Management Inc. Has $338.08 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

TD Asset Management Inc. grew its position in Arista Networks, Inc. (NYSE:ANET) by 271.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,058,689 shares of the technology company’s stock after purchasing an additional 2,236,263 shares during the quarter. TD Asset Management Inc. owned approximately 0.24% of Arista Networks worth $338,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Anchor Investment Management LLC grew its holdings in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares during the last quarter. Freedom Investment Management Inc. grew its stake in shares of Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after acquiring an additional 36 shares during the last quarter. LRI Investments LLC increased its position in Arista Networks by 3.1% during the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock worth $528,000 after acquiring an additional 41 shares during the period. Rehmann Capital Advisory Group raised its stake in Arista Networks by 3.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock valued at $453,000 after purchasing an additional 43 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in Arista Networks by 3.3% in the 3rd quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company’s stock valued at $715,000 after purchasing an additional 59 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ANET shares. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Barclays reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Performance

Shares of ANET stock opened at $87.58 on Tuesday. The stock’s fifty day moving average is $102.03 and its 200-day moving average is $101.92. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The stock has a market capitalization of $110.44 billion, a PE ratio of 39.45, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.