WCM Investment Management LLC Has $674.63 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

WCM Investment Management LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 292.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,053,181 shares of the technology company’s stock after buying an additional 4,512,166 shares during the period. Arista Networks makes up about 1.6% of WCM Investment Management LLC’s holdings, making the stock its 25th biggest position. WCM Investment Management LLC’s holdings in Arista Networks were worth $674,627,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ANET. Caitlin John LLC raised its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the period. Cranbrook Wealth Management LLC increased its position in 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 purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont increased its position in 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 purchasing an additional 198 shares during the last quarter. New Millennium Group LLC increased its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other news, insider John F. Mccool sold 6,340 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the transaction, the insider now directly owns 288 shares of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,832 shares of company stock valued at $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of several research reports. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Rosenblatt Securities upped their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group upped their price target on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Trading Up 2.8 %

Shares of ANET stock opened at $118.52 on Friday. The stock has a 50 day moving average of $113.21 and a two-hundred day moving average of $99.81. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company has a market capitalization of $149.31 billion, a P/E ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm posted $0.41 EPS. Arista Networks’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

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.