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

George Kaiser Family Foundation bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, HoldingsChannel reports. The institutional investor bought 4,884 shares of the technology company’s stock, valued at approximately $712,000. Arista Networks makes up about 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AdvisorNet Financial Inc lifted its position in 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 acquiring an additional 72 shares during the last quarter. Richardson Financial Services Inc. grew its position 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 valued at $32,000 after purchasing an additional 130 shares during the last quarter. Bare Financial Services Inc increased its stake in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. SJS Investment Consulting Inc. lifted its holdings in Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. Finally, Guerra Advisors Inc acquired a new stake in Arista Networks during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 8.3%

ANET opened at $134.95 on Thursday. The stock has a market capitalization of $169.57 billion, a price-to-earnings ratio of 48.89, a P/E/G ratio of 2.21 and a beta of 1.46. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a 50-day simple moving average of $134.26 and a 200 day simple moving average of $137.17.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. Sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ANET shares. KeyCorp reiterated an “overweight” rating and set a $178.00 price objective (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Evercore reiterated an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. Wells Fargo & Company increased their target price on shares of Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Finally, UBS Group set a $200.00 target price on shares of Arista Networks in a report on Tuesday, February 24th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $176.88.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 12,976 shares in the company, valued at $1,848,301.44. This represents a 71.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction 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 directly owned 9,784 shares in the company, valued at approximately $1,373,967.12. This represents a 44.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 196,237 shares of company stock worth $25,865,760 over the last three months. Corporate insiders own 3.39% of the company’s stock.

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.