Fidelis Capital Partners LLC Has $458,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Fidelis Capital Partners LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,943 shares of the technology company’s stock after acquiring an additional 51 shares during the period. Fidelis Capital Partners LLC’s holdings in Arista Networks were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 0.3% during the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after acquiring an additional 84,212 shares during the period. FMR LLC grew its position in Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares in the last quarter. State Street Corp grew its position in Arista Networks by 3.2% in the first quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after purchasing an additional 313,036 shares in the last quarter. Morgan Stanley grew its position in Arista Networks by 162.2% in the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after purchasing an additional 3,432,952 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Arista Networks by 1.8% in the first quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after purchasing an additional 91,829 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

NYSE:ANET opened at $245.99 on Friday. The firm’s fifty day moving average is $280.29 and its 200-day moving average is $244.55. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The firm has a market cap of $76.90 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.21 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company earned $1.25 EPS. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday, January 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity

In other news, CEO Jayshree Ullal sold 8,002 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78. Following the completion of the sale, the chief executive officer now owns 74,764 shares in the company, valued at $19,991,145.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider John F. Mccool sold 420 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 8,002 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $267.39, for a total transaction of $2,139,654.78. Following the transaction, the chief executive officer now owns 74,764 shares of the company’s stock, valued at approximately $19,991,145.96. The disclosure for this sale can be found here. Insiders sold a total of 342,229 shares of company stock worth $97,968,530 over the last quarter. Insiders own 18.99% of the company’s stock.

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.