Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arista Networks, Inc. (NYSE:ANET) by 22.9% in the fourth quarter, Holdings Channel reports. The firm owned 62,862 shares of the technology company’s stock after purchasing an additional 11,714 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arista Networks were worth $14,805,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC acquired a new position in Arista Networks in the third quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks in the third quarter valued at approximately $29,000. Hollencrest Capital Management acquired a new position in shares of Arista Networks during the first quarter worth approximately $30,000. BluePath Capital Management LLC acquired a new position in shares of Arista Networks during the third quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new position in shares of Arista Networks during the third quarter worth approximately $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the subject of several analyst reports. KeyCorp boosted their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Barclays boosted their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Wells Fargo & Company boosted their target price on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Trading Down 0.8 %

Shares of NYSE:ANET opened at $257.30 on Friday. The stock has a market capitalization of $80.44 billion, a PE ratio of 39.16, a P/E/G ratio of 2.24 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The firm has a fifty day moving average price of $281.02 and a 200 day moving average price of $244.15.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. On average, sell-side analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction 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 sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 342,229 shares of company stock worth $97,968,530. Corporate insiders own 18.99% of the company’s stock.

About Arista Networks

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.