Thrivent Financial for Lutherans Has $43.38 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Thrivent Financial for Lutherans raised its stake in Arista Networks, Inc. (NYSE:ANET) by 357.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 392,497 shares of the technology company’s stock after buying an additional 306,746 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Arista Networks were worth $43,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the period. Swedbank AB increased its stake in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Arista Networks by 320.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after purchasing an additional 4,919,882 shares during the period. Amundi boosted its position in shares of Arista Networks by 196.3% during the fourth quarter. Amundi now owns 6,342,064 shares of the technology company’s stock worth $732,493,000 after purchasing an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Arista Networks by 294.1% in 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 buying an additional 4,579,622 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock worth $49,112,111. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $84.38 on Thursday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The stock has a market capitalization of $106.42 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 3.10 and a beta of 1.08. The business has a 50-day moving average of $103.81 and a 200-day moving average of $101.77.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ANET shares. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.