TD Waterhouse Canada Inc. Has $37.47 Million Stake in Arista Networks, Inc. $ANET

TD Waterhouse Canada Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 34.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 250,716 shares of the technology company’s stock after buying an additional 64,124 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Arista Networks were worth $37,471,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ANET. Bare Financial Services Inc boosted its position in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the period. AdvisorNet Financial Inc boosted its position in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. Richardson Financial Services Inc. boosted its position in Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares during the period. REAP Financial Group LLC grew its stake in Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of 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 purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,668,843.36. The trade was a 69.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,464 shares of company stock worth $27,687,068 in the last quarter. 3.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays restated an “overweight” rating and set a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Rosenblatt Securities restated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a report on Monday, November 24th. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, UBS Group restated a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Seventeen research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Stock Performance

ANET opened at $150.31 on Thursday. The business has a 50 day moving average price of $129.93 and a 200 day moving average price of $134.76. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The firm has a market cap of $189.28 billion, a P/E ratio of 57.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.41.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company 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 anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

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.