Arista Networks, Inc. $ANET Holdings Lifted by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its position in Arista Networks, Inc. (NYSE:ANET) by 34.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,716 shares of the technology company’s stock after purchasing an additional 64,124 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Arista Networks were worth $37,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Bare Financial Services Inc increased its position in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares during the period. AdvisorNet Financial Inc grew its stake in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. grew its stake in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. REAP Financial Group LLC increased its holdings in shares of Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the period. Finally, SJS Investment Consulting Inc. raised its stake in shares of Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated 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 transaction, the director 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares in the company, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,464 shares of company stock worth $27,687,068 in the last three months. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

ANET stock opened at $150.31 on Thursday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm has a market cap of $189.28 billion, a PE ratio of 57.15, a P/E/G ratio of 2.47 and a beta of 1.41. The firm has a 50 day simple moving average of $129.93 and a 200 day simple moving average of $134.76.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ANET. Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Morgan Stanley decreased their price objective on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Barclays reiterated an “overweight” rating and set a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Finally, Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.44.

Arista Networks 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.