Nisa Investment Advisors LLC Has $34.05 Million Stake in Arista Networks, Inc. $ANET

Nisa Investment Advisors LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 233,664 shares of the technology company’s stock after purchasing an additional 5,995 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Arista Networks were worth $34,047,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ANET. AdvisorNet Financial Inc raised its position in shares of 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 last quarter. Bare Financial Services Inc boosted its holdings in Arista Networks by 2,118.2% in 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. raised its holdings in 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. REAP Financial Group LLC lifted its position in shares of Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Nova Wealth Management Inc. lifted its position in shares of Arista Networks by 215.7% in the 3rd quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock worth $50,000 after purchasing an additional 233 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $123.77 on Friday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The company has a market cap of $155.86 billion, a PE ratio of 47.06, a P/E/G ratio of 2.19 and a beta of 1.41. The stock has a 50-day moving average of $131.12 and a 200-day moving average of $131.44.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company earned $2.40 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ANET. Barclays reissued an “overweight” rating and set a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Needham & Company LLC increased their price target on Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Citigroup lifted their target price on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Buying and Selling

In related news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the transaction, the director owned 17,784 shares in the company, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 216,464 shares of company stock worth $28,488,988 in the last ninety days. Corporate insiders own 3.39% of the company’s stock.

Arista Networks 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.