Arista Networks, Inc. (NYSE:ANET) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 22.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,862 shares of the technology company’s stock after purchasing an additional 11,714 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arista Networks were worth $14,805,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Larson Financial Group LLC acquired a new stake in shares of Arista Networks in the third quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Arista Networks in the third quarter worth approximately $29,000. Hollencrest Capital Management acquired a new position in Arista Networks during the first quarter worth $30,000. BluePath Capital Management LLC acquired a new position in Arista Networks during the third quarter worth $33,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks during the third quarter worth $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Insiders sold a total of 342,229 shares of company stock valued at $97,968,530 in the last ninety days. Insiders own 18.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays lifted their target price on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Down 0.8 %

Shares of NYSE ANET opened at $257.30 on Friday. The stock has a market cap of $80.44 billion, a PE ratio of 39.16, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The business has a 50-day moving average price of $281.02 and a 200 day moving average price of $244.15.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. Sell-side analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share 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.