Arista Networks, Inc. (NYSE:ANET) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 506.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,129,767 shares of the technology company’s stock after purchasing an additional 943,338 shares during the period. National Bank of Canada FI’s holdings in Arista Networks were worth $124,881,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after purchasing an additional 72,311,318 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Norges Bank purchased a new stake in shares of Arista Networks in the fourth quarter valued at about $1,397,833,000. State Street Corp increased its stake in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Arista Networks by 313.9% during the fourth quarter. Wellington Management Group LLP now owns 11,013,511 shares of the technology company’s stock worth $1,217,323,000 after purchasing an additional 8,352,816 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on ANET shares. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Barclays reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Down 0.6 %

NYSE ANET opened at $77.48 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The business has a fifty day moving average of $98.31 and a 200-day moving average of $101.83. The stock has a market cap of $97.71 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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

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.