Groupe la Francaise Increases Holdings in Arista Networks, Inc. $ANET

Groupe la Francaise grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 135.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 232,731 shares of the technology company’s stock after buying an additional 133,697 shares during the quarter. Groupe la Francaise’s holdings in Arista Networks were worth $23,723,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its position in shares of Arista Networks by 19.8% during the first quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company’s stock valued at $47,519,000 after purchasing an additional 101,162 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Arista Networks during the first quarter valued at $15,227,000. Vanguard Group Inc. lifted its position in Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares during the period. Penobscot Investment Management Company Inc. boosted its holdings in shares of Arista Networks by 7.8% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after buying an additional 2,815 shares in the last quarter. Finally, Soltis Investment Advisors LLC grew its position in shares of Arista Networks by 99.3% in the 2nd quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock worth $4,136,000 after buying an additional 20,141 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ANET shares. Rosenblatt Securities reissued a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. The Goldman Sachs Group boosted their price target on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Needham & Company LLC lifted their price objective on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Citigroup increased their target price on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $164.31.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 58,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $148.42, for a total transaction of $8,608,360.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at $1,668,843.36. This represents a 69.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,009,464 shares of company stock worth $293,774,712. Company insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 0.7%

Shares of ANET opened at $127.23 on Wednesday. The company has a market cap of $160.22 billion, a price-to-earnings ratio of 48.38, a P/E/G ratio of 2.46 and a beta of 1.41. The business’s fifty day simple moving average is $141.38 and its two-hundred day simple moving average is $124.88. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company posted $2.40 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS 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.