Zurcher Kantonalbank Zurich Cantonalbank Buys 72,757 Shares of Arista Networks, Inc. $ANET

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Arista Networks, Inc. (NYSE:ANET) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,362,535 shares of the technology company’s stock after acquiring an additional 72,757 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of Arista Networks worth $178,533,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its holdings in Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares in the last quarter. Knuff & Co LLC bought a new position in Arista Networks during the 3rd quarter worth $29,000. Board of the Pension Protection Fund acquired a new stake in shares of Arista Networks during the fourth quarter worth $26,000. Richardson Financial Services Inc. lifted its holdings in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Arista Networks in the third quarter valued at about $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 112,812 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $150.11, for a total transaction of $16,934,209.32. Following the completion of the transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,488,640.87. The trade was a 91.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of the transaction, the director directly owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This trade represents a 44.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 322,729 shares of company stock worth $45,399,474. Insiders own 3.39% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $164.39 on Monday. The business has a fifty day moving average price of $136.20 and a two-hundred day moving average price of $136.24. The stock has a market capitalization of $206.56 billion, a PE ratio of 59.56, a PEG ratio of 2.89 and a beta of 1.48. Arista Networks, Inc. has a fifty-two week low of $66.59 and a fifty-two week high of $165.28.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of several research reports. TD Cowen started coverage on shares of Arista Networks in a research note on Thursday, March 12th. They issued a “buy” rating and a $170.00 price target on the stock. UBS Group set a $200.00 price objective on shares of Arista Networks in a report on Tuesday, February 24th. Weiss Ratings raised shares of Arista Networks from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, April 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $177.83.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.