Erste Asset Management GmbH Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Erste Asset Management GmbH lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 440.0% in the 4th quarter, Holdings Channel reports. The fund owned 240,587 shares of the technology company’s stock after buying an additional 196,035 shares during the quarter. Erste Asset Management GmbH’s holdings in Arista Networks were worth $27,252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares during the period. Swedbank AB raised its holdings in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after buying an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after buying an additional 4,919,882 shares in the last quarter. Amundi raised its holdings in shares of Arista Networks by 196.3% during the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after buying an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after buying an additional 4,579,622 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 1.5 %

NYSE ANET opened at $80.34 on Thursday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The firm has a market capitalization of $101.32 billion, a PE ratio of 36.19, a P/E/G ratio of 3.10 and a beta of 1.08. The stock’s 50 day moving average is $107.01 and its 200 day moving average is $101.88.

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

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Citigroup lifted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.