Arista Networks, Inc. $ANET Shares Bought by Czech National Bank

Czech National Bank raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 4.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 272,284 shares of the technology company’s stock after buying an additional 10,525 shares during the period. Czech National Bank’s holdings in Arista Networks were worth $35,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ANET. AdvisorNet Financial Inc grew its holdings in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. Knuff & Co LLC acquired a new position in Arista Networks in the third quarter valued at approximately $29,000. Board of the Pension Protection Fund acquired a new stake in shares of Arista Networks during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. raised its position in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares during the period. Finally, Quarry LP acquired a new position in Arista Networks in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director owned 12,574 shares in the company, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kenneth Duda sold 32,000 shares of Arista Networks stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,740,600.64. This trade represents a 71.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 199,632 shares of company stock valued at $26,936,324. 3.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Wells Fargo & Company boosted their price objective on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. TD Cowen assumed coverage on Arista Networks in a research note on Thursday, March 12th. They set a “buy” rating and a $170.00 target price for the company. UBS Group set a $200.00 target price on Arista Networks in a research report on Tuesday, February 24th. Finally, KeyCorp reissued an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $176.47.

Arista Networks Trading Up 3.1%

NYSE:ANET opened at $134.87 on Thursday. The stock has a 50 day moving average of $135.83 and a two-hundred day moving average of $137.14. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm has a market cap of $169.47 billion, a P/E ratio of 48.87, a price-to-earnings-growth ratio of 2.32 and a beta of 1.46.

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

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.