Allianz SE Acquires Shares of 46,276 Arista Networks, Inc. (NYSE:ANET)

Allianz SE bought a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, Holdings Channel reports. The fund bought 46,276 shares of the technology company’s stock, valued at approximately $5,157,000.

Several other institutional investors also recently modified their holdings of ANET. Fisher Asset Management LLC increased its position in Arista Networks by 32.1% during the 3rd quarter. Fisher Asset Management LLC now owns 6,717 shares of the technology company’s stock valued at $2,578,000 after buying an additional 1,633 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Arista Networks by 1.3% during the third quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after acquiring an additional 64 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Arista Networks by 3.8% in the 3rd quarter. Townsquare Capital LLC now owns 7,769 shares of the technology company’s stock worth $2,982,000 after purchasing an additional 288 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in Arista Networks by 2.3% in the 3rd quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after purchasing an additional 36 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Arista Networks by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,849 shares of the technology company’s stock valued at $22,971,000 after purchasing an additional 569 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 1.3 %

Shares of ANET opened at $77.91 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The stock has a market cap of $98.25 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.10 and a beta of 1.08. The business has a 50-day simple moving average of $99.16 and a two-hundred day simple moving average of $101.80.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on ANET shares. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 over the last ninety days. 3.54% of the stock is currently owned by company insiders.

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.