Arista Networks, Inc. (NYSE:ANET) Position Raised by Symmetry Investments LP

Symmetry Investments LP grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 2,348.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 256,617 shares of the technology company’s stock after acquiring an additional 246,135 shares during the period. Arista Networks makes up approximately 1.5% of Symmetry Investments LP’s portfolio, making the stock its 9th largest holding. Symmetry Investments LP’s holdings in Arista Networks were worth $28,364,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Caitlin John LLC boosted its position in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares in the last quarter. New Millennium Group LLC raised its stake in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Cranbrook Wealth Management LLC grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

NYSE ANET opened at $68.59 on Wednesday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The company has a market capitalization of $86.12 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The company’s 50-day simple moving average is $82.57 and its two-hundred day simple moving average is $98.87.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. This represents a 5.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 410,863 shares of company stock valued at $39,344,612. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Rosenblatt Securities lowered their price target on Arista Networks from $85.00 to $55.00 and set a “sell” rating for the company in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Morgan Stanley dropped their target price on Arista Networks from $118.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $104.29.

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.