National Pension Service Buys 2,105,495 Shares of Arista Networks, Inc. (NYSE:ANET)

National Pension Service boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 342.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,720,596 shares of the technology company’s stock after acquiring an additional 2,105,495 shares during the period. National Pension Service owned 0.22% of Arista Networks worth $300,707,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its stake in shares of Arista Networks by 63.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,303 shares of the technology company’s stock worth $884,000 after acquiring an additional 891 shares during the period. PFG Investments LLC bought a new position in Arista Networks during the third quarter worth about $314,000. J.W. Cole Advisors Inc. increased its stake in shares of Arista Networks by 77.4% in the third quarter. J.W. Cole Advisors Inc. now owns 5,057 shares of the technology company’s stock worth $1,941,000 after purchasing an additional 2,206 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Arista Networks by 4.9% in the third quarter. Nisa Investment Advisors LLC now owns 34,461 shares of the technology company’s stock valued at $13,227,000 after purchasing an additional 1,610 shares during the period. Finally, Old Port Advisors lifted its stake in shares of Arista Networks by 23.5% during the 3rd quarter. Old Port Advisors now owns 1,265 shares of the technology company’s stock valued at $486,000 after buying an additional 241 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANET. UBS Group lifted their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group boosted their price objective on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,224 shares of company stock worth $30,242,856. 3.54% of the stock is currently owned by insiders.

Arista Networks Trading Up 0.2 %

Shares of Arista Networks stock opened at $92.85 on Wednesday. The business’s 50-day moving average price is $112.78 and its 200-day moving average price is $102.13. The firm has a market capitalization of $117.10 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

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