United Services Automobile Association Invests $2.63 Million in Arista Networks, Inc. (NYSE:ANET)

United Services Automobile Association bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,780 shares of the technology company’s stock, valued at approximately $2,628,000.

A number of other large investors also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks during the fourth quarter valued at approximately $242,000. GHE LLC boosted its position in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after buying an additional 21,597 shares during the period. Colonial River Investments LLC grew its holdings in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the last quarter. Unified Investment Management purchased a new position in shares of Arista Networks in the fourth quarter valued at about $630,000. Finally, Berkshire Capital Holdings Inc. raised its stake in shares of Arista Networks by 257.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after acquiring an additional 55,430 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of several recent analyst reports. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup upped their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Performance

Shares of ANET opened at $83.26 on Monday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The stock has a market cap of $104.99 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The firm’s 50-day simple moving average is $102.53 and its two-hundred day simple moving average is $101.89.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 over the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Company 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.