Federated Hermes Inc. Has $177.73 Million Stock Position in Arista Networks, Inc. $ANET

Federated Hermes Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 39.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,219,782 shares of the technology company’s stock after acquiring an additional 342,063 shares during the quarter. Federated Hermes Inc. owned 0.10% of Arista Networks worth $177,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ANET. Vanguard Group Inc. boosted its holdings in shares of Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after purchasing an additional 1,136,167 shares during the period. Cresset Asset Management LLC lifted its position in Arista Networks by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after buying an additional 263,272 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Arista Networks by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after buying an additional 128,977 shares during the period. Norges Bank purchased a new position in shares of Arista Networks during the 2nd quarter valued at $1,228,177,000. Finally, Schroder Investment Management Group grew its holdings in shares of Arista Networks by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after acquiring an additional 1,350,593 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This trade represents a 70.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $128.43, for a total value of $3,339,180.00. Following the transaction, the insider owned 522,400 shares of the company’s stock, valued at approximately $67,091,832. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,464 shares of company stock worth $27,687,068 in the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Up 2.2%

Shares of Arista Networks stock opened at $146.84 on Wednesday. The firm has a fifty day simple moving average of $129.42 and a 200-day simple moving average of $134.65. The stock has a market capitalization of $184.91 billion, a price-to-earnings ratio of 55.83, a PEG ratio of 2.42 and a beta of 1.41. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm posted $2.40 EPS. The business’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the subject of a number of research reports. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Morgan Stanley decreased their target price on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Finally, Barclays restated an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.