Factory Mutual Insurance Co. Purchases 16,480 Shares of Arista Networks, Inc. (NYSE:ANET)

Factory Mutual Insurance Co. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 130.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,130 shares of the technology company’s stock after purchasing an additional 16,480 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Arista Networks were worth $11,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. GQG Partners LLC acquired a new position in Arista Networks in the first quarter valued at approximately $881,848,000. Swedbank AB acquired a new position in shares of Arista Networks in the 1st quarter valued at $521,767,000. Vanguard Group Inc. boosted its position in shares of Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price target on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. Evercore ISI boosted their price target on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. KeyCorp upped their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Stock Performance

ANET traded up $7.17 on Friday, hitting $416.93. 1,684,313 shares of the company were exchanged, compared to its average volume of 2,245,600. The company has a market cap of $130.65 billion, a PE ratio of 58.07, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $417.71. The stock’s fifty day moving average is $359.35 and its 200-day moving average is $327.66.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $1.41 earnings per share. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the completion of the sale, the director now owns 50,946 shares of the company’s stock, valued at approximately $17,437,796.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the sale, the director now directly owns 50,946 shares in the company, valued at $17,437,796.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,197 shares of company stock valued at $21,326,894 in the last quarter. 3.54% of the stock is currently owned by insiders.

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.