Thornburg Investment Management Inc. Has $24.03 Million Position in Arista Networks, Inc. $ANET

Thornburg Investment Management Inc. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,945 shares of the technology company’s stock after buying an additional 19,460 shares during the period. Thornburg Investment Management Inc.’s holdings in Arista Networks were worth $24,034,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Bare Financial Services Inc grew its stake in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares during the period. SJS Investment Consulting Inc. grew its position in Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares in the last quarter. Finally, Guerra Advisors Inc acquired a new position in Arista Networks in the 3rd quarter valued at approximately $41,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total value of $4,558,080.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,848,301.44. This represents a 71.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $128.06, for a total value of $54,041.32. Following the completion of the sale, the director owned 9,529 shares of the company’s stock, valued at $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 194,422 shares of company stock valued at $25,620,741. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

ANET opened at $132.90 on Thursday. The firm has a market cap of $167.00 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The business has a 50 day moving average price of $134.19 and a 200 day moving average price of $137.44.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Rosenblatt Securities lifted their price objective on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Evercore restated an “outperform” rating and issued a $200.00 target price on shares of Arista Networks in a research note on Friday, February 13th. UBS Group set a $200.00 price target on Arista Networks in a research note on Tuesday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $176.88.

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.