National Pension Service Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

National Pension Service raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET – Get Rating) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 343,437 shares of the technology company’s stock after acquiring an additional 3,277 shares during the quarter. National Pension Service’s holdings in Arista Networks were worth $39,409,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ANET. Cibc World Market Inc. boosted its stake in Arista Networks by 135.9% during the 1st quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock valued at $4,729,000 after purchasing an additional 19,602 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Arista Networks by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock worth $175,274,000 after buying an additional 19,738 shares during the last quarter. Prudential PLC purchased a new position in shares of Arista Networks in the 1st quarter worth $676,000. Sequoia Financial Advisors LLC purchased a new position in shares of Arista Networks in the 1st quarter worth $224,000. Finally, Vanguard Group Inc. boosted its stake in shares of Arista Networks by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock worth $3,511,828,000 after buying an additional 353,253 shares during the last quarter. 64.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research reports. Credit Suisse Group raised their price target on Arista Networks from $140.00 to $146.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 14th. Rosenblatt Securities restated a “buy” rating and issued a $175.00 price target on shares of Arista Networks in a research note on Tuesday, February 14th. The Goldman Sachs Group started coverage on Arista Networks in a research report on Monday, March 6th. They set a “buy” rating on the stock. StockNews.com started coverage on Arista Networks in a research report on Thursday. They set a “hold” rating on the stock. Finally, Barclays lifted their target price on Arista Networks from $165.00 to $177.00 and gave the company an “overweight” rating in a research report on Tuesday, February 14th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.89.

Insider Transactions at Arista Networks

In other news, SVP Marc Taxay sold 1,040 shares of Arista Networks stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $122.91, for a total value of $127,826.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Marc Taxay sold 1,040 shares of Arista Networks stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $122.91, for a total value of $127,826.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anshul Sadana sold 10,000 shares of Arista Networks stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $150.03, for a total value of $1,500,300.00. Following the completion of the transaction, the chief operating officer now owns 82,711 shares of the company’s stock, valued at approximately $12,409,131.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,462 shares of company stock valued at $35,671,679. 19.59% of the stock is currently owned by insiders.

Arista Networks Stock Up 5.8 %

NYSE:ANET opened at $162.68 on Friday. Arista Networks, Inc. has a 52 week low of $89.11 and a 52 week high of $164.26. The business’s 50-day simple moving average is $132.21 and its two-hundred day simple moving average is $125.12. The stock has a market cap of $49.84 billion, a PE ratio of 38.10, a P/E/G ratio of 2.01 and a beta of 1.24.

Arista Networks (NYSE:ANET – Get Rating) last issued its earnings results on Monday, February 13th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.20. Arista Networks had a return on equity of 30.00% and a net margin of 30.87%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The business’s revenue was up 54.7% compared to the same quarter last year. Sell-side analysts anticipate that Arista Networks, Inc. will post 5.15 earnings per share for the current fiscal year.

Arista Networks Profile

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.