Arista Networks, Inc. (NYSE:ANET) Holdings Raised by Amalgamated Bank

Amalgamated Bank boosted its stake in Arista Networks, Inc. (NYSE:ANETGet Rating) by 3.9% in the first quarter, Holdings Channel reports. The institutional investor owned 60,852 shares of the technology company’s stock after acquiring an additional 2,296 shares during the quarter. Amalgamated Bank’s holdings in Arista Networks were worth $8,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ANET. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Arista Networks by 20.2% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,500 shares of the technology company’s stock worth $2,153,000 after purchasing an additional 2,600 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Arista Networks during the 1st quarter worth $32,000. American Trust acquired a new position in shares of Arista Networks during the 1st quarter worth $498,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Arista Networks by 978.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 176,916 shares of the technology company’s stock worth $24,588,000 after purchasing an additional 160,516 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Arista Networks by 30.3% during the 1st quarter. Bank of America Corp DE now owns 1,293,132 shares of the technology company’s stock worth $179,718,000 after purchasing an additional 300,504 shares during the last quarter. Hedge funds and other institutional investors own 63.82% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of several analyst reports. Bank of America lowered shares of Arista Networks from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $140.00 to $105.00 in a research note on Wednesday, July 20th. Needham & Company LLC raised their target price on shares of Arista Networks from $128.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Arista Networks in a research note on Wednesday, August 24th. They issued a “hold” rating and a $135.00 target price on the stock. UBS Group lowered their target price on shares of Arista Networks from $140.00 to $134.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 2nd. Finally, Citigroup raised their target price on shares of Arista Networks from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $156.40.

Arista Networks Trading Down 1.0 %

ANET opened at $115.73 on Friday. The stock has a market capitalization of $35.21 billion, a PE ratio of 35.69, a PEG ratio of 1.78 and a beta of 1.33. Arista Networks, Inc. has a 1-year low of $85.18 and a 1-year high of $148.57. The firm has a 50-day moving average price of $117.54 and a two-hundred day moving average price of $114.77.

Arista Networks (NYSE:ANETGet Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $979.66 million. During the same quarter last year, the company posted $0.56 EPS. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. On average, research analysts predict that Arista Networks, Inc. will post 3.53 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 6,660 shares of Arista Networks stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $92.70, for a total transaction of $617,382.00. Following the completion of the sale, the director now owns 105,606 shares in the company, valued at approximately $9,789,676.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Charles H. Giancarlo sold 6,660 shares of Arista Networks stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $92.70, for a total transaction of $617,382.00. Following the completion of the sale, the director now owns 105,606 shares in the company, valued at approximately $9,789,676.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 1,040 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $93.14, for a total transaction of $96,865.60. The disclosure for this sale can be found here. Insiders sold a total of 268,229 shares of company stock worth $32,746,091 in the last quarter. 19.59% of the stock is owned by company insiders.

Arista Networks Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANETGet Rating).

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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