Keybank National Association OH Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

Keybank National Association OH raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 304.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,620 shares of the technology company’s stock after acquiring an additional 112,611 shares during the period. Keybank National Association OH’s holdings in Arista Networks were worth $16,537,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Zions Bancorporation N.A. boosted its holdings in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the period. Intellectus Partners LLC grew its position in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the last quarter. Altman Advisors Inc. raised its position in shares of Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the period. Beacon Financial Advisory LLC increased its position in Arista Networks by 4.9% in the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after buying an additional 30 shares during the period. Finally, Forum Financial Management LP increased its holdings in shares of Arista Networks by 1.5% in the 3rd quarter. Forum Financial Management LP now owns 2,268 shares of the technology company’s stock worth $871,000 after acquiring an additional 33 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Down 0.9 %

Shares of NYSE ANET opened at $85.26 on Wednesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The business’s 50 day moving average is $110.66 and its two-hundred day moving average is $102.25. The company has a market cap of $107.53 billion, a P/E ratio of 38.41, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ANET shares. Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Barclays upped their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group raised their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $113.79.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total transaction of $1,683,504.81. The disclosure for this sale can be found here. In the last three months, insiders sold 431,441 shares of company stock valued at $45,713,162. Company insiders own 3.54% of the company’s stock.

About Arista Networks

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.