Triasima Portfolio Management inc. Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Triasima Portfolio Management inc. increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,780 shares of the technology company’s stock after buying an additional 1,569 shares during the period. Triasima Portfolio Management inc.’s holdings in Arista Networks were worth $7,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Arista Networks by 0.3% in the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after buying an additional 84,212 shares during the last quarter. FMR LLC boosted its stake in shares of Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. State Street Corp boosted its stake in shares of Arista Networks by 3.2% in the first quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after purchasing an additional 313,036 shares during the period. Morgan Stanley raised its holdings in Arista Networks by 162.2% in the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after acquiring an additional 3,432,952 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Arista Networks by 1.8% in the first quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after acquiring an additional 91,829 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 361,036 shares of company stock valued at $102,813,921. 18.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ANET. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 8th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. KeyCorp increased their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Down 8.6 %

Shares of Arista Networks stock traded down $25.36 during trading on Friday, hitting $271.22. The stock had a trading volume of 5,750,478 shares, compared to its average volume of 2,304,847. The company has a market capitalization of $84.79 billion, a PE ratio of 41.31, a P/E/G ratio of 2.56 and a beta of 1.09. The stock has a 50 day simple moving average of $281.78 and a 200 day simple moving average of $241.96. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s revenue was up 20.8% compared to the same quarter last year. As a group, equities analysts expect that Arista Networks, Inc. will post 6.63 earnings per share for the current fiscal year.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.