Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arista Networks, Inc. (NYSE:ANET) by 457.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 333,702 shares of the technology company’s stock after acquiring an additional 273,853 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arista Networks were worth $36,884,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ANET. Caitlin John LLC boosted its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC boosted its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ANET shares. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Down 7.0 %

NYSE ANET opened at $77.53 on Tuesday. The stock’s 50-day moving average price is $108.24 and its 200-day moving average price is $102.10. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The company has a market capitalization of $97.77 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now directly owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is owned by company 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.