Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Securian Asset Management Inc.

Securian Asset Management Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 289.4% during the fourth quarter, Holdings Channel reports. The firm owned 55,519 shares of the technology company’s stock after buying an additional 41,262 shares during the period. Securian Asset Management Inc.’s holdings in Arista Networks were worth $6,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp raised its position in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares during the period. Swedbank AB raised its stake in Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after acquiring an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after acquiring an additional 4,919,882 shares in the last quarter. Amundi raised its stake in Arista Networks by 196.3% during the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after acquiring an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $89.03, for a total transaction of $712,240.00. Following the transaction, the director now owns 147,784 shares of the company’s stock, valued at approximately $13,157,209.52. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,001 shares of company stock worth $49,112,111. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ANET. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Up 1.9 %

ANET opened at $79.07 on Wednesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company has a fifty day simple moving average of $107.62 and a 200 day simple moving average of $102.03. The stock has a market cap of $99.72 billion, a P/E ratio of 35.62, 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 analysts’ consensus estimates 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 analysts’ expectations of $1.90 billion. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks Company 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.