Caisse DE Depot ET Placement DU Quebec Has $205.33 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 442.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,857,720 shares of the technology company's stock after buying an additional 1,515,252 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.15% of Arista Networks worth $205,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. JAT Capital Mgmt LP acquired a new position in Arista Networks in the fourth quarter valued at about $1,949,000. Rehmann Capital Advisory Group grew its position in shares of Arista Networks by 244.6% in the 4th quarter. Rehmann Capital Advisory Group now owns 4,056 shares of the technology company's stock valued at $448,000 after purchasing an additional 2,879 shares during the period. Bison Wealth LLC bought a new stake in Arista Networks during the 4th quarter worth approximately $251,000. Comerica Bank raised its holdings in Arista Networks by 244.3% during the 4th quarter. Comerica Bank now owns 220,355 shares of the technology company's stock worth $24,356,000 after buying an additional 156,355 shares during the period. Finally, Voleon Capital Management LP bought a new position in Arista Networks in the fourth quarter valued at approximately $3,073,000. 82.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup dropped their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Evercore ISI reduced their price objective on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $108.36.

Arista Networks Price Performance

Arista Networks stock traded up $3.24 during trading hours on Friday, hitting $91.08. The company had a trading volume of 11,074,320 shares, compared to its average volume of 9,175,009. The firm has a 50-day moving average of $79.15 and a 200 day moving average of $97.72. The firm has a market cap of $114.36 billion, a PE ratio of 41.03, a PEG ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.90 billion. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares in the company, valued at approximately $512,305.20. The trade was a 16.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,355 shares of company stock valued at $39,446,799. 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.