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

AlTi Global Inc. boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 192.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 13,080 shares of the technology company’s stock after acquiring an additional 8,609 shares during the period. AlTi Global Inc.’s holdings in Arista Networks were worth $1,568,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares during the last quarter. FMR LLC raised its stake in Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after purchasing an additional 44,269,572 shares during the last quarter. Geode Capital Management LLC boosted its stake in Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after purchasing an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after buying an additional 14,454,822 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $1,397,833,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 412,355 shares of company stock worth $39,446,799. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Trading Up 3.7 %

Shares of NYSE ANET opened at $91.08 on Friday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The stock has a market cap of $114.36 billion, a P/E ratio of 41.03, a PEG ratio of 3.10 and a beta of 1.38. The business’s fifty day simple moving average is $79.15 and its 200-day simple moving average is $97.72.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANET. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Piper Sandler cut their price target on Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Morgan Stanley boosted their price objective on Arista Networks from $73.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.36.

Arista Networks Company Profile

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.