Triasima Portfolio Management inc. Has $3.86 Million Holdings in Arista Networks, Inc. $ANET

Triasima Portfolio Management inc. boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 246.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,500 shares of the technology company’s stock after purchasing an additional 18,850 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Arista Networks were worth $3,861,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after buying an additional 1,136,167 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Arista Networks by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after acquiring an additional 263,272 shares during the period. Geode Capital Management LLC grew its holdings in shares of Arista Networks by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock worth $2,606,694,000 after purchasing an additional 128,977 shares in the last quarter. Norges Bank bought a new stake in shares of Arista Networks during the second quarter valued at approximately $1,228,177,000. Finally, Schroder Investment Management Group raised its stake in shares of Arista Networks by 14.8% in the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the transaction, the director owned 8,980 shares of the company’s stock, valued at $1,052,007. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total value of $1,070,320.00. Following the sale, the director directly owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. This trade represents a 31.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 160,464 shares of company stock valued at $20,494,988. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 1.4%

Shares of ANET stock opened at $128.05 on Tuesday. The firm has a market cap of $161.26 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 2.18 and a beta of 1.41. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a 50-day moving average price of $128.65 and a 200 day moving average price of $133.30.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company posted $2.40 EPS. The company’s revenue was up 27.5% compared to the same quarter last year. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of recent research reports. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Barclays reiterated an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. UBS Group restated a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research report on Wednesday, December 3rd. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.44.

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.