AIA Group Ltd Grows Position in Arista Networks, Inc. (NYSE:ANET)

AIA Group Ltd raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 118.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,814 shares of the technology company’s stock after purchasing an additional 20,528 shares during the period. AIA Group Ltd’s holdings in Arista Networks were worth $4,180,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ANET. Public Sector Pension Investment Board grew its position in Arista Networks by 23.2% during the third quarter. Public Sector Pension Investment Board now owns 10,092 shares of the technology company’s stock valued at $3,874,000 after acquiring an additional 1,900 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Arista Networks by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 7,972 shares of the technology company’s stock valued at $3,060,000 after purchasing an additional 116 shares in the last quarter. PDT Partners LLC grew its holdings in shares of Arista Networks by 14.9% during the 3rd quarter. PDT Partners LLC now owns 5,402 shares of the technology company’s stock worth $2,073,000 after purchasing an additional 702 shares during the period. Cobblestone Capital Advisors LLC NY acquired a new stake in Arista Networks during the 3rd quarter worth approximately $214,000. Finally, True Wealth Design LLC raised its holdings in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of several recent research reports. Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, Barclays reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Down 1.3 %

Shares of Arista Networks stock opened at $77.91 on Monday. The business has a 50-day moving average price of $99.16 and a 200 day moving average price of $101.91. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The firm has a market cap of $98.25 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08.

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

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.