National Pension Service Has $128.15 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

National Pension Service boosted its position in Arista Networks, Inc. (NYSE:ANET) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 544,127 shares of the technology company’s stock after purchasing an additional 12,100 shares during the period. National Pension Service owned about 0.17% of Arista Networks worth $128,147,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ANET. Larson Financial Group LLC bought a new stake in shares of Arista Networks during the third quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new stake in Arista Networks during the third quarter worth about $29,000. NBC Securities Inc. bought a new position in Arista Networks in the 3rd quarter valued at about $33,000. Atticus Wealth Management LLC raised its position in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after buying an additional 145 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $35,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $17.68 on Wednesday, reaching $291.67. 7,610,751 shares of the company’s stock were exchanged, compared to its average volume of 2,527,119. Arista Networks, Inc. has a 52 week low of $133.42 and a 52 week high of $307.74. The firm’s 50-day moving average is $279.22 and its two-hundred day moving average is $251.25. The company has a market capitalization of $91.19 billion, a P/E ratio of 44.39, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts expect that Arista Networks, Inc. will post 6.74 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a share buyback program on Tuesday, May 7th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $922,301.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 337,054 shares of company stock worth $96,529,086. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Piper Sandler raised their price objective on Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group upped their target price on Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI restated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.50.

Arista Networks 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.