Alliancebernstein L.P. trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 734,217 shares of the technology company’s stock after selling 445,489 shares during the period. Alliancebernstein L.P. owned about 0.97% of Arista Networks worth $213,341,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ANET. BlackRock Inc. boosted its stake in Arista Networks by 5.6% in the 4th quarter. BlackRock Inc. now owns 4,459,732 shares of the technology company’s stock worth $1,295,865,000 after purchasing an additional 234,774 shares during the period. First Trust Advisors LP boosted its stake in Arista Networks by 9.8% in the 3rd quarter. First Trust Advisors LP now owns 1,602,844 shares of the technology company’s stock worth $331,677,000 after purchasing an additional 143,594 shares during the period. Epoch Investment Partners Inc. boosted its stake in Arista Networks by 43.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 871,778 shares of the technology company’s stock worth $180,397,000 after purchasing an additional 262,329 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Arista Networks by 8.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 840,258 shares of the technology company’s stock worth $173,875,000 after purchasing an additional 65,542 shares during the period. Finally, Morgan Stanley boosted its stake in Arista Networks by 10.6% in the 3rd quarter. Morgan Stanley now owns 362,934 shares of the technology company’s stock worth $75,102,000 after purchasing an additional 34,696 shares during the period. Hedge funds and other institutional investors own 61.75% of the company’s stock.

NYSE ANET opened at $292.16 on Tuesday. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 3.91 and a beta of 1.21. The company’s fifty day moving average is $311.81 and its two-hundred day moving average is $257.62. Arista Networks, Inc. has a 52-week low of $156.63 and a 52-week high of $326.60.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Wednesday, February 17th. The technology company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.10. Arista Networks had a net margin of 32.06% and a return on equity of 20.37%. Sell-side analysts forecast that Arista Networks, Inc. will post 7.66 earnings per share for the current year.

In other news, SVP Marc Taxay sold 2,657 shares of Arista Networks stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $271.90, for a total transaction of $722,438.30. Following the sale, the senior vice president now directly owns 2,073 shares in the company, valued at approximately $563,648.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Anshul Sadana sold 1,620 shares of Arista Networks stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $272.06, for a total transaction of $440,737.20. Following the sale, the chief operating officer now owns 4,183 shares in the company, valued at $1,138,026.98. The disclosure for this sale can be found here. Insiders sold a total of 272,349 shares of company stock worth $77,723,894 over the last 90 days. Company insiders own 23.77% of the company’s stock.

A number of equities analysts recently commented on ANET shares. Credit Suisse Group raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $351.00 price objective for the company in a research note on Wednesday, January 6th. FBN Securities increased their target price on shares of Arista Networks from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. MKM Partners increased their target price on shares of Arista Networks from $273.00 to $324.00 in a research report on Thursday, January 28th. JPMorgan Chase & Co. increased their target price on shares of Arista Networks from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, UBS Group increased their target price on shares of Arista Networks from $308.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Arista Networks currently has a consensus rating of “Buy” and an average target price of $306.90.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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