National Pension Service raised its stake in Arista Networks Inc (NYSE:ANET) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,497 shares of the technology company’s stock after purchasing an additional 3,362 shares during the period. National Pension Service owned 0.09% of Arista Networks worth $15,770,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in ANET. Vanguard Group Inc lifted its holdings in Arista Networks by 21.1% in the third quarter. Vanguard Group Inc now owns 5,432,205 shares of the technology company’s stock valued at $1,444,206,000 after acquiring an additional 946,977 shares during the period. BlackRock Inc. lifted its holdings in Arista Networks by 0.8% in the fourth quarter. BlackRock Inc. now owns 3,681,159 shares of the technology company’s stock valued at $775,622,000 after acquiring an additional 27,641 shares during the period. Capital International Investors purchased a new position in shares of Arista Networks in the third quarter valued at $416,263,000. JPMorgan Chase & Co. increased its position in shares of Arista Networks by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 1,186,513 shares of the technology company’s stock valued at $315,445,000 after buying an additional 9,105 shares in the last quarter. Finally, Eaton Vance Management increased its position in shares of Arista Networks by 6.6% in the fourth quarter. Eaton Vance Management now owns 923,013 shares of the technology company’s stock valued at $194,479,000 after buying an additional 57,243 shares in the last quarter. Institutional investors own 56.33% of the company’s stock.
In other Arista Networks news, insider Anshul Sadana sold 42,084 shares of Arista Networks stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.27, for a total transaction of $12,047,386.68. Following the sale, the insider now directly owns 6,282 shares in the company, valued at approximately $1,798,348.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $218.11, for a total value of $436,220.00. Following the sale, the senior vice president now owns 15,367 shares in the company, valued at $3,351,696.37. The disclosure for this sale can be found here. Insiders have sold a total of 239,229 shares of company stock worth $70,325,047 over the last 90 days. 24.95% of the stock is owned by company insiders.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 14th. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.45. The business had revenue of $595.70 million for the quarter, compared to analyst estimates of $591.41 million. Arista Networks had a return on equity of 29.37% and a net margin of 29.47%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. On average, equities research analysts expect that Arista Networks Inc will post 8.24 EPS for the current fiscal year.
A number of research analysts have recently weighed in on ANET shares. ValuEngine cut Arista Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Morgan Stanley upgraded Arista Networks from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $290.00 to $250.00 in a research report on Monday, January 7th. Goldman Sachs Group raised their price target on Arista Networks from $300.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Nomura upgraded Arista Networks from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Friday, January 18th. Finally, Gabelli upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $279.00 price objective for the company in a research report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $300.91.
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Arista Networks Profile
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, including universal leaf, spline, and universal spine products.
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