Groupama Asset Managment Has $6.22 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Groupama Asset Managment boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 408.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,808 shares of the technology company’s stock after purchasing an additional 44,828 shares during the quarter. Groupama Asset Managment’s holdings in Arista Networks were worth $6,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after buying an additional 18,293,874 shares during the period. Alliancebernstein L.P. raised its stake in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after buying an additional 14,454,822 shares during the period. Norges Bank acquired a new stake in Arista Networks in the fourth quarter valued at approximately $1,397,833,000. Finally, Wellington Management Group LLP increased its holdings in shares of Arista Networks by 313.9% during the fourth quarter. Wellington Management Group LLP now owns 11,013,511 shares of the technology company’s stock valued at $1,217,323,000 after acquiring an additional 8,352,816 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ANET. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Performance

Shares of ANET stock opened at $78.35 on Wednesday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The firm’s 50-day simple moving average is $97.45 and its two-hundred day simple moving average is $101.75. The firm has a market cap of $98.81 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 3.10 and a beta of 1.08.

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

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by company insiders.

Arista Networks 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.