BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has $17.84M stock position in Arista Networks, Inc. (NYSE:ANET)

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Arista Networks, Inc. (NYSE:ANET – Free Report) by 60.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,898 shares of the technology company’s stock after acquiring an additional 19,227 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Arista Networks were worth $17,839,000 as of its most recent SEC filing.

Several other large investors have recently added to or reduced their stakes in ANET. Benjamin Edwards Inc. purchased a new position in Arista Networks in the first quarter valued at about $26,000. Beacon Capital Management LLC boosted its stake in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Arista Networks in the second quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the second quarter valued at about $33,000. Institutional investors and hedge funds own 82.47% of the company’s shares.

Insider trading at Arista Networks

In other news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The disclosure for this sale can be found here. Insiders have sold 107,361 shares of company stock worth $38,024,123 over the last ninety days. 3.54% of shares are currently held by corporate insiders.

Arista Networks Stock Performance

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Shares of ANET stock opened at $385.15 on Wednesday. The company has a market cap of $120.69 billion, a P/E ratio of 53.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The company’s 50-day moving average price is $342.59, and its two-hundred-day moving average price is $318.42. Arista Networks, Inc. it has a 52-week low of $168.25 and a 52-week high of $390.00.

Arista Networks (NYSE:ANET – Get Free Report ) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s quarterly revenue was up 15.9% year over year. During the same period last year, the company posted EPS of $1.41. Analysts estimate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Changes in Analyst Ratings

A number of equities analysts have commented on the stock. Evercore ISI restated an “outperform” rating and issued a $400.00 target price on shares of Arista Networks in a research report on Friday, September 13th. Citigroup upped their target price on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group raised their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $363.25, according to data from MarketBeat.

Read the latest stock analysis on Arista Networks

Arista Networks Company Profile

(Free Report)

Arista Networks, Inc is engaged 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, Middle East, Africa and Asia-Pacific. Its cloud networking solutions consist of the Extensible Operating System (EOS), a stateful publish-subscribe network operating system delivered in combination with a set of network applications.