Arista Networks, Inc. (NYSE:ANET) Shares Bought by Navellier & Associates Inc.

Navellier & Associates Inc. grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 315.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,048 shares of the technology company’s stock after buying an additional 46,359 shares during the period. Arista Networks accounts for about 0.8% of Navellier & Associates Inc.’s holdings, making the stock its 27th biggest holding. Navellier & Associates Inc.’s holdings in Arista Networks were worth $6,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. Swedbank AB boosted its stake in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares during the period. DSM Capital Partners LLC boosted its position in shares of Arista Networks by 259.7% during the 4th quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock valued at $573,527,000 after acquiring an additional 3,746,407 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Arista Networks by 306.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after purchasing an additional 1,835,421 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,056 shares of company stock worth $30,225,623. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $98.31 on Friday. The firm has a market capitalization of $123.84 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm’s 50-day moving average is $113.94 and its two-hundred day moving average is $101.57.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Analysts expect that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

ANET has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday. Finally, UBS Group raised their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks 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.