Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Xponance Inc.

Xponance Inc. increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 0.2% in the 4th quarter, HoldingsChannel reports. The firm owned 56,939 shares of the technology company’s stock after buying an additional 100 shares during the quarter. Xponance Inc.’s holdings in Arista Networks were worth $13,410,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Arista Networks by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after acquiring an additional 84,212 shares during the last quarter. FMR LLC grew its stake in shares of Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the period. State Street Corp grew its stake in shares of Arista Networks by 3.2% during the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after buying an additional 313,036 shares during the period. Morgan Stanley grew its stake in shares of Arista Networks by 162.2% during the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after buying an additional 3,432,952 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Arista Networks by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after buying an additional 91,829 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANET. Piper Sandler boosted their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Morgan Stanley boosted their price objective 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 objective 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. Barclays upped their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research report on Wednesday, March 27th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity

In other news, CEO Jayshree Ullal sold 8,002 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78. Following the sale, the chief executive officer now owns 74,764 shares in the company, valued at approximately $19,991,145.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 8,002 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78. Following the sale, the chief executive officer now owns 74,764 shares in the company, valued at approximately $19,991,145.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,229 shares of company stock worth $97,968,530. 18.99% of the stock is currently owned by corporate insiders.

Arista Networks Trading Down 0.8 %

ANET stock traded down $2.04 during trading on Friday, reaching $255.15. The stock had a trading volume of 261,188 shares, compared to its average volume of 2,421,397. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The company has a market capitalization of $79.77 billion, a P/E ratio of 39.16, a PEG ratio of 2.21 and a beta of 1.09. The firm has a fifty day moving average price of $281.02 and a 200 day moving average price of $244.15.

Arista Networks (NYSE:ANET) last issued its earnings results 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. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 EPS. Sell-side analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current year.

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.