OVERSEA CHINESE BANKING Corp Ltd Purchases 42,415 Shares of Arista Networks, Inc. (NYSE:ANET)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in Arista Networks, Inc. (NYSE:ANET) by 198.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 63,786 shares of the technology company’s stock after purchasing an additional 42,415 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Arista Networks were worth $7,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ANET. Caitlin John LLC grew its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ANET. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup lifted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Trading Down 1.3 %

NYSE:ANET opened at $83.96 on Wednesday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock has a market cap of $105.88 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 3.10 and a beta of 1.08. The stock has a 50-day moving average price of $104.44 and a two-hundred day moving average price of $101.89.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.