APG Asset Management US Inc. Acquires 14,231 Shares of Arista Networks, Inc. (NYSE:ANET)

APG Asset Management US Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 8.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 178,610 shares of the technology company’s stock after purchasing an additional 14,231 shares during the period. APG Asset Management US Inc.’s holdings in Arista Networks were worth $63,710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC increased its position in shares of Arista Networks by 21.5% during the second quarter. AQR Capital Management LLC now owns 545,041 shares of the technology company’s stock worth $191,026,000 after acquiring an additional 96,423 shares in the last quarter. Alight Capital Management LP purchased a new position in Arista Networks during the second quarter worth about $3,505,000. Alpha DNA Investment Management LLC boosted its holdings in Arista Networks by 9.7% during the second quarter. Alpha DNA Investment Management LLC now owns 5,886 shares of the technology company’s stock worth $2,063,000 after purchasing an additional 522 shares during the last quarter. Caxton Associates LP purchased a new position in Arista Networks during the second quarter worth about $14,019,000. Finally, Insigneo Advisory Services LLC boosted its holdings in Arista Networks by 95.0% during the second quarter. Insigneo Advisory Services LLC now owns 1,948 shares of the technology company’s stock worth $683,000 after purchasing an additional 949 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the transaction, the director now owns 52,946 shares of the company’s stock, valued at approximately $18,686,231.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The disclosure for this sale can be found here. Insiders have sold a total of 82,361 shares of company stock valued at $29,349,123 over the last quarter. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ANET. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Morgan Stanley boosted their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Barclays boosted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $363.25.

Arista Networks Stock Up 0.8 %

NYSE ANET opened at $388.16 on Thursday. The company’s 50 day moving average is $342.59 and its 200-day moving average is $318.42. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $390.00. The firm has a market cap of $121.94 billion, a P/E ratio of 54.06, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07.

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

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.