Arista Networks, Inc. (NYSE:ANET) Shares Bought by Securian Asset Management Inc.

Securian Asset Management Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 289.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,519 shares of the technology company's stock after purchasing an additional 41,262 shares during the period. Securian Asset Management Inc.'s holdings in Arista Networks were worth $6,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Zions Bancorporation N.A. increased its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company's stock worth $160,000 after buying an additional 27 shares during the period. Intellectus Partners LLC increased its position in Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company's stock worth $740,000 after buying an additional 27 shares during the period. Altman Advisors Inc. increased its position in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company's stock worth $2,250,000 after buying an additional 28 shares during the period. Anchor Investment Management LLC increased its position in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after buying an additional 35 shares during the period. Finally, Freedom Investment Management Inc. increased its position in Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company's stock worth $622,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares of the company's stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's 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 owns 163,784 shares in the company, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 over the last quarter. Company insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the topic of several analyst reports. 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 reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and lifted their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average target price of $114.00.

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Arista Networks Trading Up 1.9 %

ANET stock opened at $79.07 on Wednesday. The stock has a 50-day moving average price of $107.62 and a two-hundred day moving average price of $102.03. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The company has a market cap of $99.72 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.90 billion. Equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.

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