BNP Paribas Buys 15,023 Shares of Arista Networks, Inc. $ANET

by · The Markets Daily

BNP Paribas raised its stake in Arista Networks, Inc. (NYSE:ANET – Free Report) by 69.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,745 shares of the technology company’s stock after acquiring an additional 15,023 shares during the quarter. BNP Paribas’ holdings in Arista Networks were worth $3,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Bare Financial Services Inc grew its holdings in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the period. REAP Financial Group LLC raised its stake in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. Solstein Capital LLC lifted its position in shares of Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares during the last quarter. Saudi Central Bank bought a new position in shares of Arista Networks during the 1st quarter worth $33,000. Finally, Hemington Wealth Management increased its holdings in Arista Networks by 28.2% in the 2nd quarter. Hemington Wealth Management now owns 459 shares of the technology company’s stock worth $46,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,343,860.00. Following the completion of the transaction, the insider owned 542,400 shares of the company’s stock, valued at approximately $69,758,064. The trade was a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 274,464 shares of company stock worth $38,250,488. Insiders own 3.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ANET shares. Piper Sandler reaffirmed a “neutral” rating and set a $145.00 price objective (up from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. UBS Group restated a “buy” rating and set a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Wolfe Research lifted their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a report on Thursday, September 25th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $164.31.

Get Our Latest Analysis on Arista Networks

Arista Networks Price Performance

Shares of NYSE:ANET opened at $132.54 on Thursday. The firm has a fifty day moving average price of $139.58 and a two-hundred day moving average price of $126.15. The company has a market cap of $166.91 billion, a price-to-earnings ratio of 50.40, a PEG ratio of 2.49 and a beta of 1.41. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

Arista Networks (NYSE:ANET – Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 earnings per share. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

(Free Report)

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.

See Also