Mutual of America Capital Management LLC Acquires 319 Shares of Arista Networks, Inc. (NYSE:ANET)

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Mutual of America Capital Management LLC increased its holdings in Arista Networks, Inc. (NYSE:ANETGet Rating) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 29,939 shares of the technology company’s stock after purchasing an additional 319 shares during the period. Mutual of America Capital Management LLC’s holdings in Arista Networks were worth $4,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in Arista Networks by 316.3% in the fourth quarter. BlackRock Inc. now owns 17,330,539 shares of the technology company’s stock valued at $2,491,267,000 after buying an additional 13,167,098 shares during the period. State Street Corp lifted its holdings in Arista Networks by 316.7% in the fourth quarter. State Street Corp now owns 8,893,510 shares of the technology company’s stock valued at $1,278,442,000 after buying an additional 6,759,436 shares during the period. Capital World Investors lifted its holdings in Arista Networks by 289.1% in the fourth quarter. Capital World Investors now owns 8,686,014 shares of the technology company’s stock valued at $1,248,615,000 after buying an additional 6,453,749 shares during the period. Alliancebernstein L.P. lifted its holdings in Arista Networks by 303.5% in the fourth quarter. Alliancebernstein L.P. now owns 8,374,583 shares of the technology company’s stock valued at $1,203,846,000 after buying an additional 6,299,163 shares during the period. Finally, Eaton Vance Management lifted its holdings in Arista Networks by 300.0% in the fourth quarter. Eaton Vance Management now owns 4,681,386 shares of the technology company’s stock valued at $672,741,000 after buying an additional 3,511,113 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ANET shares. Bank of America lowered shares of Arista Networks from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $140.00 to $105.00 in a report on Wednesday, July 20th. Cowen upped their price objective on shares of Arista Networks from $151.00 to $154.00 in a report on Tuesday, May 3rd. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Rosenblatt Securities started coverage on shares of Arista Networks in a research report on Tuesday, July 12th. They set a “buy” rating and a $140.00 target price for the company. Finally, Cowen boosted their target price on shares of Arista Networks from $151.00 to $154.00 in a research report on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.31.

Insider Activity

In other news, Director Charles H. Giancarlo sold 6,660 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $116.57, for a total transaction of $776,356.20. Following the completion of the transaction, the director now directly owns 118,926 shares of the company’s stock, valued at approximately $13,863,203.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arista Networks news, insider Andreas Bechtolsheim sold 100,000 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $102.95, for a total value of $10,295,000.00. Following the sale, the insider now directly owns 46,520,000 shares in the company, valued at approximately $4,789,234,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 6,660 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $116.57, for a total transaction of $776,356.20. Following the sale, the director now owns 118,926 shares in the company, valued at approximately $13,863,203.82. The disclosure for this sale can be found here. Insiders sold 531,976 shares of company stock valued at $54,986,459 in the last three months. Company insiders own 19.59% of the company’s stock.

Arista Networks Stock Up 1.1 %

Arista Networks stock opened at $103.46 on Tuesday. Arista Networks, Inc. has a twelve month low of $85.18 and a twelve month high of $148.57. The firm has a 50 day moving average price of $99.42 and a 200-day moving average price of $115.35. The company has a market capitalization of $31.89 billion, a P/E ratio of 35.43, a P/E/G ratio of 1.74 and a beta of 1.28.

Arista Networks (NYSE:ANETGet Rating) last released its earnings results on Monday, May 2nd. The technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. The firm had revenue of $877.07 million during the quarter, compared to the consensus estimate of $854.01 million. During the same period in the prior year, the firm earned $0.57 EPS. Equities analysts expect that Arista Networks, Inc. will post 3.16 EPS for the current fiscal year.

Arista Networks Profile

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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.

Further Reading

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANETGet Rating).

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