BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $17.84 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Arista Networks, Inc. (NYSE:ANET) by 60.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,898 shares of the technology company’s stock after acquiring an additional 19,227 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Arista Networks were worth $17,839,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ANET. Benjamin Edwards Inc. acquired a new position in Arista Networks in the 1st quarter valued at approximately $26,000. Beacon Capital Management LLC boosted its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Arista Networks during the second quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The disclosure for this sale can be found here. Insiders sold 107,361 shares of company stock valued at $38,024,123 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

Shares of ANET stock opened at $385.15 on Wednesday. The company has a market capitalization of $120.69 billion, a P/E ratio of 53.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The company’s 50 day moving average price is $342.59 and its two-hundred day moving average price is $318.42. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $390.00.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. Analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore ISI restated an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research report on Friday, September 13th. Citigroup boosted their target price on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group raised their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $363.25.

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.