Commerzbank Aktiengesellschaft FI Raises Stake in Arista Networks Inc (NYSE:ANET)

Commerzbank Aktiengesellschaft FI raised its position in Arista Networks Inc (NYSE:ANET) by 18.0% in the third quarter, Holdings Channel reports. The fund owned 19,220 shares of the technology company’s stock after buying an additional 2,935 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Arista Networks were worth $4,592,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Arista Networks by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,777,829 shares of the technology company’s stock worth $1,500,040,000 after acquiring an additional 139,675 shares during the last quarter. BlackRock Inc. raised its holdings in Arista Networks by 4.7% during the second quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock worth $1,013,633,000 after purchasing an additional 174,887 shares in the last quarter. First Trust Advisors LP raised its holdings in Arista Networks by 53.1% during the second quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock worth $296,967,000 after purchasing an additional 396,782 shares in the last quarter. Eaton Vance Management raised its holdings in Arista Networks by 2.8% during the second quarter. Eaton Vance Management now owns 964,428 shares of the technology company’s stock worth $250,380,000 after purchasing an additional 26,627 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Arista Networks by 65,325.6% during the second quarter. Nuveen Asset Management LLC now owns 817,820 shares of the technology company’s stock worth $212,322,000 after purchasing an additional 816,570 shares in the last quarter. Institutional investors own 58.74% of the company’s stock.

A number of analysts have weighed in on ANET shares. Evercore ISI started coverage on shares of Arista Networks in a report on Wednesday, September 11th. They set an “inline” rating and a $240.00 price objective on the stock. JMP Securities reissued an “outperform” rating and set a $280.00 price objective (down previously from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Goldman Sachs Group set a $290.00 price objective on shares of Arista Networks and gave the stock a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada set a $300.00 price objective on shares of Arista Networks and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Zacks Investment Research cut shares of Arista Networks from a “buy” rating to a “hold” rating and set a $246.00 price objective on the stock. in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $287.32.

In other news, SVP Kenneth Duda sold 10,876 shares of Arista Networks stock in a transaction on Monday, August 12th. The shares were sold at an average price of $224.30, for a total value of $2,439,486.80. Following the transaction, the senior vice president now directly owns 1,971 shares of the company’s stock, valued at approximately $442,095.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $236.93, for a total transaction of $473,860.00. Following the completion of the transaction, the senior vice president now directly owns 12,312 shares in the company, valued at $2,917,082.16. The disclosure for this sale can be found here. Insiders sold a total of 39,986 shares of company stock worth $9,245,137 over the last ninety days. Corporate insiders own 23.83% of the company’s stock.

Shares of Arista Networks stock opened at $239.43 on Friday. The firm’s fifty day simple moving average is $235.67 and its 200-day simple moving average is $259.44. The stock has a market capitalization of $18.51 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 1.45 and a beta of 1.58. Arista Networks Inc has a 12 month low of $187.08 and a 12 month high of $331.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.46. The business had revenue of $608.32 million for the quarter, compared to analysts’ expectations of $606.78 million. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 EPS. Analysts anticipate that Arista Networks Inc will post 8.71 earnings per share for the current year.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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