Bank Julius Baer & Co. Ltd Zurich Grows Stake in Arista Networks, Inc. (NYSE:ANET)

Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 254.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 197,536 shares of the technology company’s stock after buying an additional 141,839 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Arista Networks were worth $22,980,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks during the 4th quarter worth approximately $242,000. GHE LLC lifted its position in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC lifted its position in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the period. Unified Investment Management acquired a new stake in Arista Networks during the 4th quarter worth approximately $630,000. Finally, Silver Oak Securities Incorporated lifted its position in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 1.2 %

NYSE ANET opened at $83.31 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a market capitalization of $105.07 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The firm’s fifty day simple moving average is $108.92 and its 200-day simple moving average is $102.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the transaction, the director now directly owns 147,784 shares in the company, valued at approximately $13,157,209.52. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,289 shares of company stock worth $42,355,417. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price target for the company from $112.00 to $115.00 in a report on Wednesday. Wells Fargo & Company raised their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.