Banque Cantonale Vaudoise Raises Stock Position in Arista Networks, Inc. $ANET

Banque Cantonale Vaudoise raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 22.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,872 shares of the technology company’s stock after acquiring an additional 9,156 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Arista Networks were worth $7,267,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Arista Networks during the second quarter worth about $1,228,177,000. Massachusetts Financial Services Co. MA lifted its holdings in Arista Networks by 2,829.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock worth $833,630,000 after purchasing an additional 5,525,828 shares in the last quarter. Holocene Advisors LP bought a new position in Arista Networks in the 2nd quarter worth approximately $247,451,000. Schroder Investment Management Group boosted its stake in Arista Networks by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock worth $1,073,654,000 after purchasing an additional 1,350,593 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in Arista Networks by 282.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,549,486 shares of the technology company’s stock worth $158,528,000 after purchasing an additional 1,144,786 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Kenneth Duda sold 32,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total value of $4,558,080.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,848,301.44. The trade was a 71.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the sale, the director owned 12,574 shares in the company, valued at $1,665,300.56. This represents a 12.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 196,237 shares of company stock valued at $25,865,760 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $137.14 on Tuesday. The stock has a market capitalization of $172.32 billion, a price-to-earnings ratio of 49.69, a price-to-earnings-growth ratio of 2.36 and a beta of 1.46. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The business’s 50 day simple moving average is $134.51 and its 200-day simple moving average is $137.26.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. Arista Networks’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. Needham & Company LLC upped their target price on shares of Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Barclays reaffirmed an “overweight” rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a research note on Friday, February 13th. KeyCorp reiterated an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, UBS Group set a $200.00 price objective on shares of Arista Networks in a report on Tuesday, February 24th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $176.88.

Arista Networks 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.