Cambridge Trust Co. Boosts Position in Arista Networks, Inc. (NYSE:ANET)

Cambridge Trust Co. boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 5.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 52,922 shares of the technology company’s stock after buying an additional 2,667 shares during the period. Cambridge Trust Co.’s holdings in Arista Networks were worth $12,464,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Morgan Stanley raised its stake in shares of Arista Networks by 162.2% during the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after purchasing an additional 3,432,952 shares during the period. Norges Bank purchased a new stake in shares of Arista Networks during the fourth quarter valued at approximately $308,885,000. FMR LLC raised its stake in shares of Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Schroder Investment Management Group boosted its stake in Arista Networks by 439.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after purchasing an additional 1,025,815 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Arista Networks by 1,424.3% during the 4th quarter. 1832 Asset Management L.P. now owns 875,198 shares of the technology company’s stock valued at $106,205,000 after purchasing an additional 817,781 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 8,002 shares of Arista Networks stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78. Following the completion of the sale, the chief executive officer now directly owns 74,764 shares in the company, valued at approximately $19,991,145.96. The disclosure for this sale can be found here. Insiders have sold 342,415 shares of company stock valued at $98,017,152 in the last three months. 18.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ANET has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. The Goldman Sachs Group lifted their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company boosted their price target on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Morgan Stanley boosted their price target on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Stock Performance

NYSE ANET traded down $1.90 during trading on Thursday, reaching $257.37. 1,385,464 shares of the company traded hands, compared to its average volume of 2,442,379. The stock’s 50 day moving average price is $281.39 and its two-hundred day moving average price is $244.06. The company has a market cap of $80.46 billion, a price-to-earnings ratio of 39.49, a P/E/G ratio of 2.24 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

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

Arista Networks Company 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.