Zurcher Kantonalbank Zurich Cantonalbank Purchases 72,757 Shares of Arista Networks, Inc. $ANET

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,362,535 shares of the technology company’s stock after acquiring an additional 72,757 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arista Networks were worth $178,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Arista Networks by 1.0% in the third quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock valued at $14,571,121,000 after purchasing an additional 1,007,730 shares during the last quarter. State Street Corp grew its holdings in shares of Arista Networks by 0.5% during the third quarter. State Street Corp now owns 46,342,551 shares of the technology company’s stock worth $6,752,573,000 after purchasing an additional 245,976 shares during the last quarter. Invesco Ltd. increased its stake in shares of Arista Networks by 1.8% in the third quarter. Invesco Ltd. now owns 10,094,255 shares of the technology company’s stock valued at $1,470,834,000 after buying an additional 181,813 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Arista Networks by 82.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock valued at $1,396,939,000 after buying an additional 4,332,659 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Arista Networks by 2,829.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after buying an additional 5,525,828 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 112,812 shares of Arista Networks stock in a transaction on Monday, April 13th. The shares were sold at an average price of $150.11, for a total value of $16,934,209.32. Following the completion of the sale, the chief executive officer owned 9,917 shares in the company, valued at $1,488,640.87. The trade was a 91.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chantelle Yvette Breithaupt sold 8,890 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $155.02, for a total transaction of $1,378,127.80. Following the transaction, the chief financial officer owned 60,734 shares in the company, valued at $9,414,984.68. The trade was a 12.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 322,729 shares of company stock valued at $45,399,474 over the last 90 days. 3.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group set a $200.00 target price on shares of Arista Networks in a research report on Tuesday, February 24th. JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a report on Friday, February 13th. Needham & Company LLC boosted their price objective on shares of Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Barclays restated an “overweight” rating and issued a $184.00 price objective (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $177.83.

Arista Networks Trading Up 0.1%

Shares of ANET opened at $164.39 on Monday. The firm’s fifty day simple moving average is $136.20 and its two-hundred day simple moving average is $136.24. Arista Networks, Inc. has a 12 month low of $66.59 and a 12 month high of $165.28. The stock has a market capitalization of $206.56 billion, a P/E ratio of 59.56, a price-to-earnings-growth ratio of 2.89 and a beta of 1.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.