Swiss National Bank Sells 167,600 Shares of Arista Networks, Inc. $ANET

Swiss National Bank reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 5.2% during the third quarter, Holdings Channel reports. The institutional investor owned 3,077,300 shares of the technology company’s stock after selling 167,600 shares during the period. Swiss National Bank’s holdings in Arista Networks were worth $448,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC increased its holdings in Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after acquiring an additional 70 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares in the last quarter. Crown Wealth Group LLC increased its holdings in shares of Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after purchasing an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc lifted its position in shares of Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after buying an additional 76 shares in the last quarter. Finally, West Family Investments Inc. boosted its stake in Arista Networks by 0.9% during the third quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock valued at $1,219,000 after buying an additional 76 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Arista Networks stock opened at $133.15 on Monday. The firm has a market capitalization of $167.31 billion, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 2.36 and a beta of 1.46. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The company’s 50-day moving average is $134.45 and its 200 day moving average is $137.23.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. Research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ANET. The Goldman Sachs Group reaffirmed a “buy” rating and set a $188.00 price objective (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Evercore restated an “outperform” rating and issued a $200.00 target price on shares of Arista Networks in a report on Friday, February 13th. UBS Group set a $200.00 price target on shares of Arista Networks in a report on Tuesday, February 24th. Finally, KeyCorp restated an “overweight” rating and set a $178.00 price objective (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.88.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of the sale, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the transaction, the director owned 12,574 shares in the company, valued at approximately $1,665,300.56. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 196,237 shares of company stock valued at $25,865,760 in the last quarter. 3.54% of the stock is owned by insiders.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.