Pacer Advisors Inc. Has $12.18 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Pacer Advisors Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,763 shares of the technology company’s stock after buying an additional 1,330 shares during the period. Pacer Advisors Inc.’s holdings in Arista Networks were worth $12,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. Capital World Investors grew its stake in Arista Networks by 0.5% in the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after purchasing an additional 55,312 shares in the last quarter. WCM Investment Management LLC grew its stake in Arista Networks by 0.8% in the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after purchasing an additional 25,196 shares in the last quarter. GQG Partners LLC purchased a new position in Arista Networks in the first quarter valued at about $881,848,000. Finally, Swedbank AB purchased a new position in Arista Networks in the first quarter valued at about $521,767,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Up 1.4 %

Shares of ANET stock opened at $384.46 on Monday. The stock has a 50 day moving average of $341.55 and a two-hundred day moving average of $316.93. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $385.50. The company has a market capitalization of $120.48 billion, a P/E ratio of 53.55, a P/E/G ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $1.41 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ANET. Citigroup increased their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Needham & Company LLC reissued a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. Evercore ISI reissued an “outperform” rating and set a $400.00 price objective on shares of Arista Networks in a report on Friday, September 13th. KeyCorp increased their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the sale, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,361 shares of company stock worth $38,024,123. 3.54% of the stock is currently owned by company insiders.

Arista Networks Company 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.