Cwm LLC Buys 26,328 Shares of Arista Networks, Inc. $ANET

Cwm LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 16.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 190,431 shares of the technology company’s stock after purchasing an additional 26,328 shares during the period. Cwm LLC’s holdings in Arista Networks were worth $27,748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ANET. Norges Bank bought a new stake in shares of Arista Networks during the second quarter worth about $1,228,177,000. AQR Capital Management LLC boosted its position in Arista Networks by 153.8% during the 1st quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock worth $584,119,000 after buying an additional 4,678,372 shares during the period. Nordea Investment Management AB grew its holdings in Arista Networks by 193.3% during the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after acquiring an additional 4,656,021 shares during the last quarter. Holocene Advisors LP acquired a new position in Arista Networks in the 2nd quarter valued at approximately $247,451,000. Finally, Amundi increased its position in Arista Networks by 35.3% in the 1st quarter. Amundi now owns 8,582,109 shares of the technology company’s stock valued at $611,852,000 after acquiring an additional 2,240,045 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $128.09, for a total value of $1,024,720.00. Following the completion of the sale, the director directly owned 25,784 shares of the company’s stock, valued at $3,302,672.56. The trade was a 23.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,202,160.00. Following the transaction, the insider directly owned 532,400 shares in the company, valued at approximately $65,570,384. This trade represents a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 216,464 shares of company stock valued at $28,598,588. 3.39% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of ANET opened at $131.92 on Friday. The firm has a market cap of $166.13 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 2.50 and a beta of 1.41. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The business’s 50 day moving average price is $135.01 and its two-hundred day moving average price is $128.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm posted $2.40 EPS. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. Citigroup boosted their price objective on shares of Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Finally, Wells Fargo & Company upped their target price on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.56.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.