Arista Networks, Inc. $ANET Shares Acquired by Mackenzie Financial Corp

by · The Markets Daily

Mackenzie Financial Corp boosted its position in Arista Networks, Inc. (NYSE:ANET – Free Report) by 193.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 869,455 shares of the technology company’s stock after buying an additional 573,178 shares during the period. Mackenzie Financial Corp’s holdings in Arista Networks were worth $126,688,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in Arista Networks by 1.4% during the third quarter. Quadrant Capital Group LLC now owns 25,388 shares of the technology company’s stock worth $3,699,000 after purchasing an additional 354 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Arista Networks by 3.2% in the third quarter. Van ECK Associates Corp now owns 282,518 shares of the technology company’s stock valued at $41,166,000 after buying an additional 8,683 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Arista Networks by 22.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 49,872 shares of the technology company’s stock worth $7,267,000 after buying an additional 9,156 shares during the last quarter. Vestcor Inc boosted its position in shares of Arista Networks by 38.9% in the 3rd quarter. Vestcor Inc now owns 30,995 shares of the technology company’s stock worth $4,516,000 after buying an additional 8,674 shares in the last quarter. Finally, Sienna Gestion grew its stake in Arista Networks by 111.1% in the 3rd quarter. Sienna Gestion now owns 127,489 shares of the technology company’s stock valued at $16,937,000 after acquiring an additional 67,084 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Wells Fargo & Company upped their target price on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Needham & Company LLC increased their target price on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research report on Friday, February 13th. Finally, KeyCorp reissued an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $176.88.

Check Out Our Latest Analysis on Arista Networks

Arista Networks Trading Down 0.9%

NYSE ANET opened at $138.33 on Thursday. The business’s 50-day moving average price is $134.80 and its 200 day moving average price is $137.32. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market capitalization of $173.81 billion, a PE ratio of 50.12, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46.

Arista Networks (NYSE:ANET – Get Free Report) last posted its quarterly 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 return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The firm’s revenue was up 28.9% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total transaction of $54,041.32. Following the transaction, the director owned 9,529 shares of the company’s stock, valued at $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $142.35, for a total transaction of $3,701,100.00. Following the completion of the transaction, the insider owned 512,400 shares in the company, valued at approximately $72,940,140. This trade represents a 4.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 196,237 shares of company stock valued at $25,865,760 over the last three months. Insiders own 3.39% of the company’s stock.

About Arista Networks

(Free Report)

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.

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