Arista Networks, Inc. (NYSE:ANET) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,849 shares of the technology company’s stock after selling 622 shares during the period. Bank of Montreal Can’s holdings in Arista Networks were worth $11,763,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ANET. Capital Research Global Investors lifted its stake in shares of Arista Networks by 66.2% in the 1st quarter. Capital Research Global Investors now owns 4,492,195 shares of the technology company’s stock worth $624,325,000 after acquiring an additional 1,788,816 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Arista Networks by 231.9% in the 1st quarter. Victory Capital Management Inc. now owns 967,461 shares of the technology company’s stock worth $131,343,000 after acquiring an additional 676,006 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Arista Networks by 450.1% in the 1st quarter. Baird Financial Group Inc. now owns 671,955 shares of the technology company’s stock worth $93,388,000 after acquiring an additional 549,799 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Arista Networks by 465.9% in the 1st quarter. 1832 Asset Management L.P. now owns 444,768 shares of the technology company’s stock worth $60,964,000 after acquiring an additional 366,168 shares during the period. Finally, Vanguard Group Inc. lifted 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 acquiring an additional 353,253 shares during the period. Institutional investors and hedge funds own 63.82% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $137.19 on Thursday. The company has a market cap of $41.92 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. Arista Networks, Inc. has a 12 month low of $89.11 and a 12 month high of $148.57. The company has a 50-day simple moving average of $118.16 and a 200-day simple moving average of $112.01.

Arista Networks (NYSE:ANETGet Rating) last issued its quarterly earnings results on Monday, October 31st. The technology company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.06 billion. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. The company’s quarterly revenue was up 57.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, analysts anticipate that Arista Networks, Inc. will post 3.78 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the sale, the director now directly owns 96,946 shares in the company, valued at $12,126,005.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $127.38, for a total value of $2,547,600.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $413,220.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the sale, the director now directly owns 96,946 shares in the company, valued at $12,126,005.68. The disclosure for this sale can be found here. Insiders sold a total of 70,476 shares of company stock worth $8,515,503 over the last ninety days. 19.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANET. Cowen raised their target price on shares of Arista Networks from $163.00 to $203.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 1st. Credit Suisse Group raised their price objective on shares of Arista Networks from $119.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, November 7th. UBS Group raised their price objective on shares of Arista Networks to $135.00 in a research note on Friday, November 4th. Morgan Stanley raised their price objective on shares of Arista Networks from $115.00 to $130.00 and gave the company an “equal weight” rating in a research note on Monday, November 7th. Finally, Cowen raised their price objective on shares of Arista Networks from $163.00 to $203.00 and gave the company an “outperform” rating in a research note on Tuesday, November 1st. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $167.32.

Arista Networks Company 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.

Further Reading

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

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