Bigelow Investment Advisors LLC Buys New Position in Arista Networks, Inc. $ANET

Bigelow Investment Advisors LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,864 shares of the technology company’s stock, valued at approximately $1,292,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares during the period. Cresset Asset Management LLC grew its holdings in Arista Networks by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after acquiring an additional 263,272 shares during the period. Geode Capital Management LLC raised its position in shares of Arista Networks by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock worth $2,606,694,000 after acquiring an additional 128,977 shares in the last quarter. Norges Bank acquired a new position in shares of Arista Networks in the 2nd quarter valued at about $1,228,177,000. Finally, Schroder Investment Management Group boosted its position in shares of Arista Networks by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 2.0%

NYSE ANET opened at $133.63 on Monday. The company has a market cap of $168.27 billion, a P/E ratio of 50.81, a PEG ratio of 2.25 and a beta of 1.41. The company has a fifty day simple moving average of $133.33 and a 200 day simple moving average of $130.84. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period last year, the firm earned $2.40 earnings per share. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ANET shares. The Goldman Sachs Group lifted their target price on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Barclays reiterated an “overweight” rating and set a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Wells Fargo & Company raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a research note on Thursday, September 25th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the completion of the transaction, the insider owned 12,976 shares in the company, valued at approximately $1,598,124.16. The trade was a 69.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 208,464 shares of company stock worth $27,418,668 in the last quarter. 3.54% of the stock is owned by insiders.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.