Czech National Bank Has $38.14 Million Stake in Arista Networks, Inc. $ANET

Czech National Bank increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 261,759 shares of the technology company’s stock after purchasing an additional 10,026 shares during the quarter. Czech National Bank’s holdings in Arista Networks were worth $38,141,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ANET. Bare Financial Services Inc raised its position in shares of Arista Networks by 2,118.2% during the 2nd 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. Saudi Central Bank bought a new position in shares of Arista Networks in the 1st quarter worth $33,000. REAP Financial Group LLC grew its stake in shares of Arista Networks by 108.0% during the second 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. eCIO Inc. bought a new stake in Arista Networks in the first quarter valued at about $36,000. Finally, Solstein Capital LLC increased its holdings in Arista Networks by 493.8% in the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after purchasing an additional 316 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on ANET. Rosenblatt Securities restated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research report on Monday, November 24th. Needham & Company LLC lifted their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Evercore ISI upped their target price on shares of Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Piper Sandler reissued a “neutral” rating and set a $145.00 price target (up from $143.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Finally, BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.56.

Insider Transactions at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the transaction, the insider directly owned 12,976 shares in the company, valued at approximately $1,668,843.36. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction that occurred on 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 owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 218,464 shares of company stock worth $30,309,988 in the last 90 days. Company insiders own 3.39% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $122.33 on Thursday. The firm has a market cap of $154.05 billion, a P/E ratio of 46.51, a PEG ratio of 2.42 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 firm’s 50 day moving average price is $137.41 and its two-hundred day moving average price is $127.44.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The firm’s revenue was up 27.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

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.