National Bank of Canada FI Reduces Stock Position in Arista Networks, Inc. (NYSE:ANET)

National Bank of Canada FI decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,574 shares of the technology company’s stock after selling 1,804 shares during the quarter. National Bank of Canada FI’s holdings in Arista Networks were worth $23,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Arista Networks by 0.3% during the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after buying an additional 84,212 shares in the last quarter. FMR LLC boosted its stake in shares of Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares in the last quarter. Northern Trust Corp raised its position in shares of Arista Networks by 5.0% in the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after buying an additional 114,978 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Arista Networks by 0.8% during the fourth quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock worth $425,683,000 after acquiring an additional 14,627 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In related news, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the transaction, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The disclosure for this sale can be found here. In the last three months, insiders sold 337,474 shares of company stock worth $96,640,840. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ANET shares. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 8th. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. KeyCorp boosted their price target on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Finally, Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $285.53.

Arista Networks Price Performance

Shares of ANET stock opened at $276.72 on Tuesday. The company’s fifty day moving average price is $279.18 and its two-hundred day moving average price is $250.63. The firm has a market capitalization of $86.51 billion, a P/E ratio of 42.44, a P/E/G ratio of 2.33 and a beta of 1.13. Arista Networks, Inc. has a 12 month low of $133.42 and a 12 month high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. Arista Networks’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 6.74 EPS for the current 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.