Today, Commerce Bank Reduces stake in Arista Networks Inc. (ANET)

Today, Commerce Bank Reduces stake in Arista Networks Inc. (ANET)
Commerce Bank decreased its stake in Arista Networks Inc. (NYSE:ANET) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,231 shares of the company’s stock after selling 375 shares during the period. Commerce Bank’s holdings in Arista Networks were worth $2,146,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ANET. State Street Corp raised its stake in shares of Arista Networks by 5.5% in the first quarter. State Street Corp now owns 635,968 shares of the company’s stock valued at $40,130,000 after buying an additional 32,964 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Arista Networks by 718.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 337,428 shares of the company’s stock valued at $21,724,000 after buying an additional 296,193 shares during the period. Smith Asset Management Group LP purchased a new stake in shares of Arista Networks during the second quarter valued at about $1,124,000. Baltimore Washington Financial Advisors Inc. raised its stake in shares of Arista Networks by 4.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 41,950 shares of the company’s stock valued at $2,700,000 after buying an additional 1,975 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Arista Networks by 10.7% in the second quarter. Vanguard Group Inc. now owns 2,832,779 shares of the company’s stock valued at $182,373,000 after buying an additional 273,119 shares during the period. Institutional investors and hedge funds own 54.58% of the company’s stock.

Arista Networks Inc. (NYSE:ANET) traded down 0.56% during trading on Friday, reaching $94.66. The company had a trading volume of 365,498 shares. Arista Networks Inc. has a 12-month low of $52.51 and a 12-month high of $95.47. The stock has a market capitalization of $6.65 billion, a P/E ratio of 40.94 and a beta of 1.12. The stock has a 50 day moving average of $85.29 and a 200-day moving average of $77.11.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.10. The business earned $290.26 million during the quarter, compared to the consensus estimate of $283.33 million. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. On average, analysts forecast that Arista Networks Inc. will post $3.08 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on ANET shares. Credit Suisse Group AG reissued a “buy” rating and issued a $90.00 target price on shares of Arista Networks in a research note on Wednesday, August 24th. Deutsche Bank AG boosted their target price on Arista Networks from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, September 14th. Needham & Company LLC reissued a “buy” rating and issued a $105.00 target price on shares of Arista Networks in a research note on Monday, August 8th. Oppenheimer Holdings Inc. set a $90.00 target price on Arista Networks and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Argus started coverage on Arista Networks in a research note on Tuesday, October 25th. They issued a “buy” rating and a $107.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and an average target price of $90.14.

In other news, VP Mark Stephen Smith sold 11,150 shares of Arista Networks stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $82.52, for a total transaction of $920,098.00. Following the completion of the sale, the vice president now owns 1,620 shares of the company’s stock, valued at $133,682.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 11,746 shares of Arista Networks stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $86.53, for a total transaction of $1,016,381.38. Following the sale, the senior vice president now directly owns 420 shares of the company’s stock, valued at approximately $36,342.60. The disclosure for this sale can be found here. Insiders own 32.39% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.

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