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

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

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Arista Networks in the 2nd quarter valued at approximately $1,228,177,000. Massachusetts Financial Services Co. MA raised its holdings in Arista Networks by 2,829.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock worth $833,630,000 after buying an additional 5,525,828 shares during the period. Nordea Investment Management AB lifted its stake in Arista Networks by 193.3% in the second quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock valued at $721,342,000 after buying an additional 4,656,021 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Arista Networks in the second quarter valued at approximately $247,451,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Arista Networks by 123.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,068,064 shares of the technology company’s stock valued at $313,894,000 after buying an additional 1,692,467 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In other news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the sale, the director owned 8,980 shares in the company, valued at $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,202,160.00. Following the completion of the transaction, the insider directly owned 532,400 shares in the company, valued at $65,570,384. The trade was a 4.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 160,464 shares of company stock worth $20,494,988. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 1.4%

ANET opened at $128.05 on Tuesday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The business has a 50 day moving average of $128.65 and a 200-day moving average of $133.30. The stock 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 (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping 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 firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the business posted $2.40 earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ANET shares. BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective on the stock in a research report on Thursday, September 25th. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a research report on Monday, November 24th. Barclays reissued an “overweight” rating and issued a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Finally, Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.