Arista Networks, Inc. $ANET Shares Acquired by National Pension Service

National Pension Service increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,095,191 shares of the technology company’s stock after buying an additional 68,479 shares during the period. National Pension Service owned about 0.25% of Arista Networks worth $451,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after purchasing an additional 1,136,167 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of Arista Networks by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after purchasing an additional 263,272 shares during the last quarter. Geode Capital Management LLC lifted its stake in Arista Networks by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after buying an additional 128,977 shares in the last quarter. Norges Bank acquired a new stake in Arista Networks in the 2nd quarter worth about $1,228,177,000. Finally, Schroder Investment Management Group increased its stake in Arista Networks by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock worth $1,073,654,000 after buying an additional 1,350,593 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $141.79 on Friday. The firm has a 50-day simple moving average of $130.99 and a two-hundred day simple moving average of $135.08. The stock has a market cap of $178.55 billion, a PE ratio of 53.91, a P/E/G ratio of 2.50 and a beta of 1.41. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period 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. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Barclays restated an “overweight” rating and issued a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Morgan Stanley decreased their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a research report on Monday, November 24th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $133.79, for a total value of $1,070,320.00. Following the transaction, the director directly owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. This represents a 31.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,464 shares of company stock valued at $27,687,068 over the last three months. 3.39% of the stock is currently owned by company insiders.

Arista Networks Company 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.