Bokf Na Purchases 22,339 Shares of Arista Networks, Inc. $ANET

Bokf Na lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,091 shares of the technology company’s stock after buying an additional 22,339 shares during the period. Bokf Na’s holdings in Arista Networks were worth $15,459,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC grew its stake in shares of Arista Networks by 33.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock worth $2,808,000 after acquiring an additional 4,780 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $8,263,000. National Wealth Management Group LLC bought a new stake in shares of Arista Networks in the third quarter worth $1,296,000. Vanguard Group Inc. lifted its position in shares of Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after purchasing an additional 1,136,167 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in Arista Networks during the second quarter worth $247,451,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Down 0.9%

Shares of ANET opened at $138.33 on Thursday. The company’s fifty day simple moving average is $134.80 and its 200 day simple moving average is $137.32. 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 $173.81 billion, a price-to-earnings ratio of 50.12, a PEG ratio of 2.48 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. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In related news, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the sale, the director directly owned 12,574 shares in the company, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $128.06, for a total value of $54,041.32. Following the transaction, the director owned 9,529 shares of the company’s stock, valued at $1,220,283.74. The trade was a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 196,237 shares of company stock valued at $25,865,760 in the last 90 days. 3.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ANET. Evercore reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Arista Networks in a research report on Friday, February 13th. UBS Group set a $200.00 price target on shares of Arista Networks in a research report on Tuesday, February 24th. Rosenblatt Securities increased their price objective on shares of Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $175.00 target price (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.