Pacer Advisors Inc. Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Pacer Advisors Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,776 shares of the technology company’s stock after purchasing an additional 6,087 shares during the quarter. Pacer Advisors Inc.’s holdings in Arista Networks were worth $7,013,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cibc World Market Inc. raised its position in shares of Arista Networks by 135.9% during the 1st quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock valued at $4,729,000 after buying an additional 19,602 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Arista Networks by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock valued at $175,274,000 after purchasing an additional 19,738 shares during the period. Prudential PLC bought a new stake in shares of Arista Networks in the 1st quarter valued at approximately $676,000. Sequoia Financial Advisors LLC purchased a new position in shares of Arista Networks in the 1st quarter worth approximately $224,000. Finally, Vanguard Group Inc. increased its position in shares of Arista Networks by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after purchasing an additional 353,253 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 3.2 %

Shares of NYSE:ANET opened at $288.41 on Thursday. The firm has a 50 day moving average of $274.45 and a 200 day moving average of $232.99. The company has a market capitalization of $90.17 billion, a price-to-earnings ratio of 43.90, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, sell-side analysts expect that Arista Networks, Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 8th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Wells Fargo & Company upped their target price on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $275.59.

Insider Buying and Selling at Arista Networks

In related news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the transaction, the director now owns 2,678 shares in the company, valued at approximately $700,055.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Yvonne Wassenaar sold 186 shares of Arista Networks stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the sale, the director now directly owns 2,678 shares in the company, valued at approximately $700,055.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $234.00, for a total transaction of $243,360.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,084 shares of company stock valued at $79,741,091. 18.99% of the stock is currently owned by insiders.

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.