1,033 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Conning Inc.

Conning Inc. bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,033 shares of the technology company’s stock, valued at approximately $243,000.

Other hedge funds have also added to or reduced their stakes in the company. Triasima Portfolio Management inc. increased its stake in shares of Arista Networks by 5.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 30,780 shares of the technology company’s stock valued at $7,249,000 after acquiring an additional 1,569 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Arista Networks in the 4th quarter valued at $3,580,000. WCM Investment Management LLC increased its stake in shares of Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after acquiring an additional 16,081 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Arista Networks in the 4th quarter valued at $217,000. Finally, Simplicity Solutions LLC increased its stake in shares of Arista Networks by 4.6% in the 4th quarter. Simplicity Solutions LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after acquiring an additional 194 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ANET. JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley boosted their price target on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Piper Sandler lifted their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $270.79 on Monday. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The stock’s 50-day simple moving average is $281.78 and its 200 day simple moving average is $242.84. The stock has a market capitalization of $84.66 billion, a P/E ratio of 41.28, a P/E/G ratio of 2.34 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the business posted $1.25 EPS. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities research analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.41, for a total value of $48,622.26. Following the transaction, the director now directly owns 2,678 shares in the company, valued at $700,055.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The disclosure for this sale can be found here. Insiders have sold a total of 361,036 shares of company stock worth $102,813,921 over the last ninety days. Company insiders own 18.99% of the company’s stock.

About Arista Networks

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.