TIAA Trust National Association Has $18.58 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

TIAA Trust National Association grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 302.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 168,064 shares of the technology company’s stock after purchasing an additional 126,309 shares during the period. TIAA Trust National Association’s holdings in Arista Networks were worth $18,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FineMark National Bank & Trust grew its position in Arista Networks by 300.0% in the 4th quarter. FineMark National Bank & Trust now owns 12,120 shares of the technology company’s stock valued at $1,340,000 after purchasing an additional 9,090 shares during the period. Ashton Thomas Securities LLC lifted its stake in shares of Arista Networks by 308.2% in the fourth quarter. Ashton Thomas Securities LLC now owns 12,216 shares of the technology company’s stock valued at $1,350,000 after buying an additional 9,223 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Arista Networks by 271.9% during the fourth quarter. TD Asset Management Inc. now owns 3,058,689 shares of the technology company’s stock valued at $338,077,000 after buying an additional 2,236,263 shares during the last quarter. EFG Asset Management North America Corp. increased its position in shares of Arista Networks by 337.5% during the fourth quarter. EFG Asset Management North America Corp. now owns 48,418 shares of the technology company’s stock worth $5,354,000 after acquiring an additional 37,352 shares in the last quarter. Finally, Dudley Capital Management LLC raised its holdings in shares of Arista Networks by 293.7% in the 4th quarter. Dudley Capital Management LLC now owns 3,248 shares of the technology company’s stock worth $359,000 after acquiring an additional 2,423 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 0.7 %

Shares of ANET stock opened at $86.87 on Wednesday. The firm has a market cap of $109.55 billion, a P/E ratio of 39.13, a PEG ratio of 3.10 and a beta of 1.08. The company has a 50 day moving average of $101.47 and a 200-day moving average of $101.98. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,001 shares of company stock worth $49,112,111. Company insiders own 3.54% of the company’s stock.

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.