Cerity Partners LLC Has $1.51 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Cerity Partners LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 283.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,411 shares of the technology company’s stock after buying an additional 4,737 shares during the quarter. Cerity Partners LLC’s holdings in Arista Networks were worth $1,510,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after acquiring an additional 84,212 shares during the last quarter. FMR LLC raised its holdings in shares of Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. State Street Corp raised its holdings in shares of Arista Networks by 3.2% in the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock worth $1,677,231,000 after acquiring an additional 313,036 shares during the last quarter. Morgan Stanley raised its holdings in shares of Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after acquiring an additional 3,432,952 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Arista Networks by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock worth $856,254,000 after acquiring an additional 91,829 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,229 shares of company stock valued at $97,968,530. Company insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 4.3 %

Arista Networks stock opened at $246.09 on Friday. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The firm has a 50 day moving average price of $280.29 and a 200-day moving average price of $244.97. The company has a market capitalization of $76.94 billion, a P/E ratio of 37.46, a P/E/G ratio of 2.20 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $1.25 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. Equities analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI restated an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. JMP Securities restated a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group increased their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

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.