Healthcare of Ontario Pension Plan Trust Fund Has $15.64 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 5,154.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 44,614 shares of the technology company’s stock after purchasing an additional 43,765 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Arista Networks were worth $15,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ANET. Benjamin Edwards Inc. bought a new stake in Arista Networks in the 1st quarter valued at about $26,000. Beacon Capital Management LLC lifted its holdings in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in Arista Networks during the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new stake in shares of Arista Networks in the second quarter worth $33,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,202,550.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,361 shares of company stock worth $20,523,830. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

NYSE ANET opened at $389.92 on Friday. The business’s 50 day moving average price is $350.01 and its 200-day moving average price is $323.05. The company has a market cap of $122.19 billion, a P/E ratio of 54.31, a P/E/G ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $395.82.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $1.41 EPS. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ANET. UBS Group lifted their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI upped their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, Barclays raised their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $364.81.

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.