Arista Networks, Inc. $ANET Shares Purchased by Amundi

Amundi boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,902,915 shares of the technology company’s stock after acquiring an additional 320,806 shares during the quarter. Amundi owned 0.71% of Arista Networks worth $900,352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bare Financial Services Inc grew its holdings in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares in the last quarter. REAP Financial Group LLC boosted its position in Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. Solstein Capital LLC grew its stake in shares of Arista Networks by 493.8% in the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after acquiring an additional 316 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Arista Networks during the first quarter worth $33,000. Finally, Costello Asset Management INC increased its position in shares of Arista Networks by 51.3% during the first quarter. Costello Asset Management INC now owns 454 shares of the technology company’s stock worth $35,000 after acquiring an additional 154 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ANET shares. The Goldman Sachs Group lifted their target price on Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 12th. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Morgan Stanley set a $171.00 target price on shares of Arista Networks and gave the stock an “overweight” rating in a research note on Friday, October 10th. Needham & Company LLC raised their target price on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Finally, Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.31.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 1,247,688 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the sale, the chief executive officer directly owned 5,383,207 shares of the company’s stock, valued at $799,567,735.71. This represents a 18.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 58,000 shares of Arista Networks stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $148.42, for a total value of $8,608,360.00. The disclosure for this sale is available in the SEC filing. Insiders sold 1,578,700 shares of company stock worth $231,687,618 over the last 90 days. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Stock Up 0.5%

Shares of Arista Networks stock opened at $128.47 on Friday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The firm’s 50 day moving average is $140.79 and its two-hundred day moving average is $124.92. The firm has a market capitalization of $161.78 billion, a P/E ratio of 48.85, a P/E/G ratio of 2.46 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.40 EPS. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.