Twin Capital Management Inc. Has $4.66 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Twin Capital Management Inc. decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,769 shares of the technology company’s stock after selling 360 shares during the quarter. Twin Capital Management Inc.’s holdings in Arista Networks were worth $4,656,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Arista Networks by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after buying an additional 84,212 shares during the last quarter. FMR LLC grew its stake in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. State Street Corp grew its stake in Arista Networks by 3.2% in the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after buying an additional 313,036 shares during the last quarter. Morgan Stanley grew its stake in Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after buying an additional 3,432,952 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in 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 valued at $856,254,000 after purchasing an additional 91,829 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the transaction, the director now owns 2,678 shares in the company, valued at $700,055.98. The disclosure for this sale can be found here. Insiders have sold a total of 342,415 shares of company stock worth $98,017,152 over the last ninety days. Insiders own 18.99% of the company’s stock.

Arista Networks Stock Performance

ANET traded down $1.52 during trading on Thursday, reaching $257.75. 1,145,896 shares of the stock were exchanged, compared to its average volume of 2,438,885. The stock has a market cap of $80.58 billion, a P/E ratio of 39.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The stock’s 50 day moving average price is $281.39 and its two-hundred day moving average price is $244.06.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. Equities research analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

ANET has been the subject of a number of research reports. Barclays increased their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Morgan Stanley raised their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. raised their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

About Arista Networks

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.