Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Czech National Bank

Czech National Bank grew its position in Arista Networks, Inc. (NYSE:ANET) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,476 shares of the technology company’s stock after buying an additional 4,108 shares during the quarter. Czech National Bank’s holdings in Arista Networks were worth $20,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. FCG Investment Co grew its stake in shares of Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after buying an additional 29 shares in the last quarter. Old Port Advisors grew its stake in shares of Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after buying an additional 32 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Arista Networks by 33.3% in the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after buying an additional 33 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after buying an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC boosted its holdings in Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after purchasing an additional 37 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

Arista Networks stock opened at $389.92 on Friday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $395.82. The company has a market capitalization of $122.19 billion, a P/E ratio of 54.31, a PEG ratio of 3.04 and a beta of 1.07. The stock has a 50-day simple moving average of $350.01 and a 200-day simple moving average of $323.05.

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

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total value of $765,040.00. Following the transaction, the director now owns 46,946 shares in the company, valued at approximately $17,957,783.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total value of $765,040.00. Following the transaction, the director now owns 46,946 shares in the company, valued at approximately $17,957,783.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. The disclosure for this sale can be found here. In the last three months, insiders sold 57,361 shares of company stock valued at $20,523,830. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. KeyCorp lifted their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Bank of America lifted their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. UBS Group lifted their target price on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley lifted their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $364.81.

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.