PGGM Investments Increases Stake in Arista Networks, Inc. (NYSE:ANET)

PGGM Investments raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4,246.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,777 shares of the technology company’s stock after acquiring an additional 24,207 shares during the quarter. PGGM Investments’ holdings in Arista Networks were worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ANET. Balboa Wealth Partners lifted its position in Arista Networks by 195.2% during the fourth quarter. Balboa Wealth Partners now owns 3,150 shares of the technology company’s stock valued at $348,000 after purchasing an additional 2,083 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Arista Networks by 324.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 19,833 shares of the technology company’s stock worth $2,192,000 after buying an additional 15,161 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Arista Networks by 402.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 469,872 shares of the technology company’s stock valued at $52,367,000 after buying an additional 376,341 shares in the last quarter. Erste Asset Management GmbH grew its stake in shares of Arista Networks by 440.0% during the 4th quarter. Erste Asset Management GmbH now owns 240,587 shares of the technology company’s stock valued at $27,252,000 after acquiring an additional 196,035 shares during the period. Finally, Achmea Investment Management B.V. increased its holdings in Arista Networks by 417.7% in the 4th quarter. Achmea Investment Management B.V. now owns 83,356 shares of the technology company’s stock worth $9,213,000 after acquiring an additional 67,255 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ANET. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, Citigroup increased their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One equities 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Performance

NYSE ANET opened at $80.11 on Friday. The stock has a 50 day moving average price of $106.38 and a 200-day moving average price of $101.73. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The company has a market capitalization of $101.02 billion, a P/E ratio of 36.08, a P/E/G ratio of 3.10 and a beta of 1.08.

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

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.