Generali Asset Management SPA SGR Buys New Shares in Arista Networks, Inc. (NYSE:ANET)

Generali Asset Management SPA SGR purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 82,852 shares of the technology company’s stock, valued at approximately $9,158,000.

A number of other large investors have also recently added to or reduced their stakes in ANET. OneDigital Investment Advisors LLC lifted its stake in Arista Networks by 4.9% in the third quarter. OneDigital Investment Advisors LLC now owns 4,421 shares of the technology company’s stock valued at $1,697,000 after acquiring an additional 207 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Arista Networks by 166.4% during the 3rd quarter. Claro Advisors LLC now owns 1,569 shares of the technology company’s stock worth $602,000 after buying an additional 980 shares during the last quarter. Aljian Capital Management LLC acquired a new stake in shares of Arista Networks during the 3rd quarter worth about $235,000. Quest Partners LLC lifted its stake in shares of Arista Networks by 149.2% during the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock worth $1,112,000 after buying an additional 1,734 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Arista Networks in the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock opened at $85.06 on Tuesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The firm has a 50-day moving average of $105.07 and a 200-day moving average of $101.92. The company has a market cap of $107.27 billion, a P/E ratio of 38.32, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Citigroup upped their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI upped their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Profile

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.