Axa S.A. Has $63.64 Million Stock Position in Arista Networks, Inc. $ANET

Axa S.A. cut its holdings in Arista Networks, Inc. (NYSE:ANET) by 18.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 621,984 shares of the technology company’s stock after selling 143,467 shares during the quarter. Axa S.A.’s holdings in Arista Networks were worth $63,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. Stablepoint Partners LLC grew its holdings in shares of Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after purchasing an additional 77 shares during the last quarter. Telos Capital Management Inc. boosted its position in Arista Networks by 1.0% in the second quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock valued at $947,000 after buying an additional 88 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Arista Networks by 1.6% during the second quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock worth $618,000 after buying an additional 95 shares during the last quarter. Putney Financial Group LLC increased its holdings in shares of Arista Networks by 0.7% during the second quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock worth $1,447,000 after buying an additional 95 shares in the last quarter. Finally, 1900 Wealth Management LLC lifted its stake in shares of Arista Networks by 2.3% in the 2nd quarter. 1900 Wealth Management LLC now owns 4,338 shares of the technology company’s stock valued at $444,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent research reports. UBS Group reissued a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a report on Wednesday, December 3rd. Morgan Stanley set a $171.00 price target on Arista Networks and gave the company an “overweight” rating in a research note on Friday, October 10th. Wells Fargo & Company upped their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Needham & Company LLC raised their price objective 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, Barclays reiterated an “overweight” rating and set a $183.00 target price (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.31.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles H. Giancarlo sold 58,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $148.42, for a total value of $8,608,360.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 274,464 shares of company stock valued at $38,250,488. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $129.89 on Wednesday. The company’s 50 day moving average price is $139.91 and its 200-day moving average price is $126.11. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The company has a market capitalization of $163.56 billion, a P/E ratio of 49.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.41.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. Arista Networks’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 earnings per share. Analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks 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.