Arista Networks, Inc. $ANET Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 22.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,083,773 shares of the technology company’s stock after acquiring an additional 195,958 shares during the period. National Bank of Canada FI’s holdings in Arista Networks were worth $157,916,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bare Financial Services Inc raised its position in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the period. AdvisorNet Financial Inc grew its position in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the period. Knuff & Co LLC acquired a new stake in shares of Arista Networks in the third quarter valued at about $29,000. Richardson Financial Services Inc. increased its stake in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its position in shares of Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.3%

ANET opened at $135.37 on Tuesday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The firm has a market capitalization of $170.09 billion, a PE ratio of 49.05, a PEG ratio of 2.37 and a beta of 1.46. The firm’s 50-day moving average price is $134.82 and its 200 day moving average price is $137.34.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Arista Networks’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANET. Wells Fargo & Company raised their price target on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. UBS Group set a $200.00 price objective on Arista Networks in a research note on Tuesday, February 24th. TD Cowen assumed coverage on Arista Networks in a report on Thursday, March 12th. They set a “buy” rating and a $170.00 target price for the company. Needham & Company LLC raised their target price on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Rosenblatt Securities lifted their price target on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $176.47.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the transaction, the director owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the sale, the director owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. The trade was a 12.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 196,237 shares of company stock valued at $25,865,760 over the last ninety days. 3.54% of the stock is currently owned by company 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.