Jackson Square Partners LLC lowered its holdings in shares of Arista Networks Inc (NYSE:ANET) by 14.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,612 shares of the technology company’s stock after selling 203,016 shares during the quarter. Arista Networks accounts for about 2.1% of Jackson Square Partners LLC’s portfolio, making the stock its 19th biggest position. Jackson Square Partners LLC’s holdings in Arista Networks were worth $392,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cigna Investments Inc. New raised its position in Arista Networks by 2.4% in the 1st quarter. Cigna Investments Inc. New now owns 1,675 shares of the technology company’s stock valued at $528,000 after buying an additional 40 shares during the last quarter. CENTRAL TRUST Co raised its position in Arista Networks by 42.6% in the 1st quarter. CENTRAL TRUST Co now owns 201 shares of the technology company’s stock valued at $63,000 after buying an additional 60 shares during the last quarter. Montag & Caldwell LLC raised its position in Arista Networks by 4.5% in the 1st quarter. Montag & Caldwell LLC now owns 1,410 shares of the technology company’s stock valued at $443,000 after buying an additional 61 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Arista Networks by 46.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock valued at $61,000 after buying an additional 61 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Arista Networks by 0.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,580 shares of the technology company’s stock valued at $2,229,000 after buying an additional 64 shares during the last quarter. 58.01% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on ANET shares. Piper Jaffray Companies restated an “overweight” rating and issued a $330.00 price target (down from $340.00) on shares of Arista Networks in a research note on Friday, June 7th. Morgan Stanley decreased their price target on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. MKM Partners raised their price target on Arista Networks to $295.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Wolfe Research upgraded Arista Networks from an “underperform” rating to a “peer perform” rating in a research note on Monday, May 6th. Finally, Macquarie set a $325.00 price target on Arista Networks and gave the company a “buy” rating in a research note on Friday, May 3rd. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $312.17.

Shares of NYSE ANET traded up $0.88 during midday trading on Wednesday, hitting $243.88. 387,557 shares of the company’s stock were exchanged, compared to its average volume of 952,989. The company has a current ratio of 5.34, a quick ratio of 4.70 and a debt-to-equity ratio of 0.04. Arista Networks Inc has a 12 month low of $187.08 and a 12 month high of $331.27. The company has a market capitalization of $18.74 billion, a P/E ratio of 34.49, a P/E/G ratio of 1.53 and a beta of 1.62.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, May 2nd. The technology company reported $2.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.24. Arista Networks had a return on equity of 29.36% and a net margin of 30.36%. The company had revenue of $595.42 million during the quarter, compared to the consensus estimate of $595.21 million. During the same period in the previous year, the company posted $1.66 EPS. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. Analysts predict that Arista Networks Inc will post 8.42 EPS for the current fiscal year.

In related news, CEO Jayshree Ullal sold 198 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $292.97, for a total transaction of $58,008.06. Following the completion of the sale, the chief executive officer now directly owns 10,425 shares of the company’s stock, valued at approximately $3,054,212.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ita M. Brennan sold 5,000 shares of Arista Networks stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $243.94, for a total value of $1,219,700.00. Following the sale, the insider now directly owns 6,830 shares of the company’s stock, valued at $1,666,110.20. The disclosure for this sale can be found here. Insiders have sold a total of 138,811 shares of company stock valued at $41,339,029 over the last quarter. 23.83% of the stock is currently owned by corporate insiders.

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Arista Networks Profile

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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