M&T Bank Corp Has $11.36 Million Position in Arista Networks, Inc. (NYSE:ANET)

M&T Bank Corp raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 186.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,245 shares of the technology company’s stock after purchasing an additional 31,386 shares during the period. M&T Bank Corp’s holdings in Arista Networks were worth $11,362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Arista Networks by 0.3% in 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 last quarter. FMR LLC lifted its holdings in shares of Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after acquiring an additional 2,515,864 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after acquiring an additional 16,081 shares during the period. Northern Trust Corp lifted its holdings in shares of Arista Networks by 5.0% during the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after acquiring an additional 114,978 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Arista Networks by 0.8% during the fourth quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock valued at $425,683,000 after acquiring an additional 14,627 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $274.40 on Monday. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The firm’s 50-day simple moving average is $279.07 and its 200 day simple moving average is $250.02. The firm has a market cap of $85.79 billion, a price-to-earnings ratio of 41.77, a P/E/G ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm posted $1.25 earnings per share. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Arista Networks, Inc. will post 6.74 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kelly Bodnar Battles sold 278 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $265.81, for a total value of $73,895.18. Following the sale, the director now directly owns 2,553 shares in the company, valued at $678,612.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,974 shares of company stock worth $96,252,685. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of a number of research reports. KeyCorp raised their target price on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Barclays raised their target price on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Wells Fargo & Company upped their target price on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 8th. Finally, Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $285.53.

Arista Networks Company 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.