Nisa Investment Advisors LLC raised its holdings in Arista Networks Inc (NYSE:ANET) by 12,766.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,790 shares of the technology company’s stock after purchasing an additional 5,745 shares during the period. Nisa Investment Advisors LLC’s holdings in Arista Networks were worth $1,362,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Hermes Investment Management Ltd. acquired a new stake in Arista Networks in the third quarter valued at approximately $7,316,000. Sapphire Star Partners LP grew its holdings in Arista Networks by 56.9% in the third quarter. Sapphire Star Partners LP now owns 3,452 shares of the technology company’s stock valued at $654,000 after purchasing an additional 1,252 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Arista Networks by 8.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 142,562 shares of the technology company’s stock valued at $27,031,000 after purchasing an additional 10,593 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in Arista Networks in the third quarter valued at approximately $2,785,000. Finally, CIBC Asset Management Inc grew its holdings in Arista Networks by 28.7% in the third quarter. CIBC Asset Management Inc now owns 2,802 shares of the technology company’s stock valued at $531,000 after purchasing an additional 624 shares during the period. 58.02% of the stock is currently owned by institutional investors.
In other Arista Networks news, insider Anshul Sadana sold 24,000 shares of Arista Networks stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $256.25, for a total value of $6,150,000.00. Following the sale, the insider now owns 80,972 shares in the company, valued at $20,749,075. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andreas Bechtolsheim sold 39,680 shares of Arista Networks stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $241.92, for a total value of $9,599,385.60. Following the completion of the sale, the insider now owns 73,102 shares in the company, valued at approximately $17,684,835.84. The disclosure for this sale can be found here. Insiders sold 618,126 shares of company stock worth $142,771,964 in the last 90 days. Company insiders own 28.09% of the company’s stock.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 2nd. The technology company reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.33. Arista Networks had a return on equity of 24.76% and a net margin of 25.10%. equities research analysts expect that Arista Networks Inc will post 4.63 EPS for the current fiscal year.
Several analysts have commented on the company. UBS Group raised their price objective on Arista Networks from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Morgan Stanley raised their price objective on Arista Networks from $210.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, December 21st. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 31st. DA Davidson raised Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Friday, November 3rd. Finally, Wells Fargo & Co assumed coverage on Arista Networks in a report on Tuesday, November 14th. They issued a “market perform” rating and a $235.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $205.66.
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Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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