Sienna Gestion Raises Stock Holdings in Arista Networks, Inc. $ANET

Sienna Gestion increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 111.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,489 shares of the technology company’s stock after purchasing an additional 67,084 shares during the period. Arista Networks makes up 1.2% of Sienna Gestion’s investment portfolio, making the stock its 16th largest holding. Sienna Gestion’s holdings in Arista Networks were worth $16,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc raised its stake in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares during the last quarter. Richardson Financial Services Inc. grew its holdings 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. Bare Financial Services Inc increased 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 valued at $25,000 after acquiring an additional 233 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after acquiring an additional 235 shares during the period. Finally, Guerra Advisors Inc purchased a new position in Arista Networks in the third quarter worth about $41,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, Director Yvonne Wassenaar sold 1,815 shares of Arista Networks stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 196,237 shares of company stock worth $25,865,760 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock opened at $133.15 on Monday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm’s 50 day moving average price is $134.45 and its 200-day moving average price is $137.23. The stock has a market cap of $167.31 billion, a P/E ratio of 48.24, a PEG ratio of 2.36 and a beta of 1.46.

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 the consensus estimate of $0.75 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. Arista Networks’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

ANET has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Arista Networks 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 report on Friday, February 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, KeyCorp restated an “overweight” rating and issued a $178.00 price objective (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $176.88.

About Arista Networks

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.