William Blair Investment Management LLC lowered its holdings in Arista Networks, Inc. (NYSE:ANET) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,815 shares of the technology company’s stock after selling 29,040 shares during the quarter. William Blair Investment Management LLC’s holdings in Arista Networks were worth $42,951,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Greenleaf Trust purchased a new stake in Arista Networks in the fourth quarter valued at $266,000. CIBC World Markets Inc. purchased a new stake in Arista Networks in the 4th quarter worth approximately $223,000. Vident Investment Advisory LLC grew its stake in shares of Arista Networks by 17.7% during the 4th quarter. Vident Investment Advisory LLC now owns 8,558 shares of the technology company’s stock worth $2,486,000 after purchasing an additional 1,285 shares during the period. Mondrian Capital Management LLC purchased a new position in shares of Arista Networks during the 4th quarter valued at approximately $4,068,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Arista Networks by 25.2% in the 4th quarter. New York State Common Retirement Fund now owns 158,571 shares of the technology company’s stock valued at $46,076,000 after purchasing an additional 31,950 shares during the period. Hedge funds and other institutional investors own 61.75% of the company’s stock.
Several equities analysts have recently weighed in on ANET shares. Barclays raised their price target on shares of Arista Networks from $294.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Friday. MKM Partners lifted their price objective on Arista Networks from $273.00 to $324.00 in a research report on Thursday, January 28th. Bank of America raised Arista Networks from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research note on Tuesday, November 3rd. Piper Sandler raised their target price on Arista Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Smith Barney Citigroup lifted their price target on Arista Networks from $240.00 to $290.00 in a report on Monday, December 21st. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $306.90.
Shares of ANET opened at $292.16 on Tuesday. Arista Networks, Inc. has a 1 year low of $156.63 and a 1 year high of $326.60. The stock has a market capitalization of $22.11 billion, a P/E ratio of 32.72, a P/E/G ratio of 3.91 and a beta of 1.21. The company’s fifty day moving average is $311.81 and its two-hundred day moving average is $257.62.
Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Wednesday, February 17th. The technology company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.10. Arista Networks had a net margin of 32.06% and a return on equity of 20.37%. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 7.66 EPS for the current fiscal year.
In related news, COO Anshul Sadana sold 1,620 shares of the business’s stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $272.06, for a total value of $440,737.20. Following the sale, the chief operating officer now directly owns 4,183 shares in the company, valued at approximately $1,138,026.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 2,657 shares of the stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $271.90, for a total transaction of $722,438.30. Following the completion of the sale, the senior vice president now directly owns 2,073 shares in the company, valued at $563,648.70. The disclosure for this sale can be found here. Insiders sold a total of 272,349 shares of company stock valued at $77,723,894 in the last quarter. Insiders own 23.77% of the company’s stock.
Arista Networks Profile
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
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