George Kaiser Family Foundation Invests $712,000 in Arista Networks, Inc. $ANET

George Kaiser Family Foundation acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,884 shares of the technology company’s stock, valued at approximately $712,000. Arista Networks accounts for 0.1% of George Kaiser Family Foundation’s portfolio, making the stock its 22nd largest position.

Several other institutional investors have also added to or reduced their stakes in the stock. Bare Financial Services Inc raised its stake in shares of 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 purchasing an additional 233 shares during the period. AdvisorNet Financial Inc boosted its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares in the last quarter. SJS Investment Consulting Inc. raised its position in Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after buying an additional 235 shares during the last quarter. Finally, Guerra Advisors Inc bought a new stake in Arista Networks in the 3rd quarter valued at approximately $41,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 8.3%

Shares of ANET opened at $134.95 on Thursday. The company’s fifty day simple moving average is $134.26 and its 200 day simple moving average is $137.17. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The company has a market cap of $169.57 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 2.21 and a beta of 1.46.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,848,301.44. The trade was a 71.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director owned 9,784 shares in the company, valued at $1,373,967.12. This represents a 44.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 196,237 shares of company stock worth $25,865,760. Company insiders own 3.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Rosenblatt Securities raised their target price on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, Evercore reissued an “outperform” rating and set a $200.00 price target on shares of Arista Networks in a research report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.88.

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.