Arista Networks, Inc. $ANET Shares Acquired by Keybank National Association OH

Keybank National Association OH increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 47.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 209,214 shares of the technology company’s stock after acquiring an additional 67,430 shares during the period. Keybank National Association OH’s holdings in Arista Networks were worth $30,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ANET. Bare Financial Services Inc boosted its stake in shares of 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 purchasing an additional 233 shares during the period. AdvisorNet Financial Inc lifted its holdings in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. boosted its position in Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares during the period. REAP Financial Group LLC grew its stake in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,464 shares of company stock worth $27,687,068 over the last three months. 3.39% of the stock is currently owned by company insiders.

Arista Networks Trading Down 4.3%

ANET stock opened at $141.79 on Friday. The stock has a market cap of $178.55 billion, a P/E ratio of 53.91, a PEG ratio of 2.50 and a beta of 1.41. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company’s 50 day moving average is $130.99 and its two-hundred day moving average is $135.28.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm posted $2.40 EPS. The company’s revenue was up 27.5% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ANET shares. Morgan Stanley decreased their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Rosenblatt Securities reiterated a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Barclays reiterated an “overweight” rating and issued a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, UBS Group reissued a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research report on Wednesday, December 3rd. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $164.44.

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.