Pictet Asset Management Holding SA Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Pictet Asset Management Holding SA raised its stake in Arista Networks, Inc. (NYSE:ANET) by 281.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 505,998 shares of the technology company’s stock after buying an additional 373,259 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Arista Networks were worth $55,928,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Anchor Investment Management LLC raised its stake in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares in the last quarter. Freedom Investment Management Inc. increased its position in shares of Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after purchasing an additional 36 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Arista Networks by 3.1% during the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Arista Networks by 3.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after purchasing an additional 43 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in Arista Networks by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock worth $1,980,000 after buying an additional 64 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ANET. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Evercore ISI boosted their target price 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. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Trading Down 1.3 %

Shares of ANET stock opened at $77.91 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The stock has a 50 day moving average of $99.16 and a 200 day moving average of $101.80. The stock has a market cap of $98.25 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, research analysts predict that Arista Networks, Inc. will post 2.2 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.