Blue Trust Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,990 shares of the technology company’s stock after purchasing an additional 352 shares during the period. Blue Trust Inc.’s holdings in Arista Networks were worth $330,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ANET. Swedbank AB raised its holdings in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after acquiring an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC raised its holdings in Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after acquiring an additional 4,512,166 shares in the last quarter. Jennison Associates LLC raised its holdings in Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after acquiring an additional 3,496,497 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Arista Networks by 306.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock valued at $268,966,000 after acquiring an additional 1,835,421 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Arista Networks by 322.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock worth $259,557,000 after purchasing an additional 1,773,777 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.
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Arista Networks Stock Up 3.9 %
Shares of ANET opened at $111.05 on Wednesday. The firm has a 50-day moving average price of $113.95 and a 200 day moving average price of $101.32. The firm has a market capitalization of $139.89 billion, a PE ratio of 53.39, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.
Insider Activity at Arista Networks
Arista Networks ( NYSE:ANET Get Free Report ) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. On average, equities analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current year.
In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now directly owns 288 shares of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 337,320 shares of company stock worth $37,946,706 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ANET shares. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday. UBS Group increased their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.
Check Out Our Latest Report on Arista Networks
Arista Networks Profile
(Free Report)
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.
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