Czech National Bank Purchases 10,026 Shares of Arista Networks, Inc. $ANET

Czech National Bank increased its position in Arista Networks, Inc. (NYSE:ANET) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,759 shares of the technology company’s stock after purchasing an additional 10,026 shares during the quarter. Czech National Bank’s holdings in Arista Networks were worth $38,141,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ANET. Bare Financial Services Inc lifted its holdings in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the period. Saudi Central Bank acquired a new position in Arista Networks in the first quarter worth about $33,000. REAP Financial Group LLC raised its position in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in the last quarter. eCIO Inc. bought a new position in Arista Networks during the first quarter worth about $36,000. Finally, Solstein Capital LLC boosted its holdings in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after purchasing an additional 316 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays reissued an “overweight” rating and issued a $183.00 target price (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Wells Fargo & Company increased their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Wolfe Research boosted their target price on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, UBS Group reissued a “buy” rating and set a $155.00 price target on shares of Arista Networks in a report on Wednesday, December 3rd. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.56.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the completion of the sale, the director directly owned 25,784 shares of the company’s stock, valued at $3,302,672.56. This trade represents a 23.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 218,464 shares of company stock valued at $30,309,988 over the last three months. 3.39% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $122.33 on Thursday. The business has a fifty day moving average of $137.41 and a 200-day moving average of $127.44. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The firm has a market cap of $154.05 billion, a PE ratio of 46.51, a price-to-earnings-growth ratio of 2.42 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The company’s revenue was up 27.5% on a year-over-year basis. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS 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.