Allstate Corp Purchases Shares of 32,854 Arista Networks, Inc. (NYSE:ANET)

Allstate Corp acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,854 shares of the technology company’s stock, valued at approximately $3,631,000.

A number of other large investors have also made changes to their positions in ANET. Fisher Asset Management LLC boosted its position in shares of Arista Networks by 32.1% during the 3rd quarter. Fisher Asset Management LLC now owns 6,717 shares of the technology company’s stock valued at $2,578,000 after acquiring an additional 1,633 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Arista Networks by 5.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,388 shares of the technology company’s stock valued at $533,000 after purchasing an additional 77 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Arista Networks by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after purchasing an additional 64 shares during the period. Townsquare Capital LLC raised its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. Townsquare Capital LLC now owns 7,769 shares of the technology company’s stock worth $2,982,000 after buying an additional 288 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its position in shares of Arista Networks by 2.3% during the 3rd quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $77.91 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The firm has a market capitalization of $98.25 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08. The company’s 50 day simple moving average is $99.16 and its 200 day simple moving average is $101.66.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANET. Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and increased their price target for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.