O Shaughnessy Asset Management LLC Acquires 72,332 Shares of Arista Networks, Inc. (NYSE:ANET)

O Shaughnessy Asset Management LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 359.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,467 shares of the technology company’s stock after purchasing an additional 72,332 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Arista Networks were worth $10,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ANET. Vanguard Group Inc. grew its position in 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. Norges Bank purchased a new stake in shares of Arista Networks in the 4th quarter valued at $1,397,833,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Arista Networks by 2,734.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,415,621 shares of the technology company’s stock valued at $598,589,000 after purchasing an additional 5,224,540 shares during the last quarter. Swedbank AB grew its holdings in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Arista Networks by 320.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after purchasing an additional 4,919,882 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. The trade was a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ANET shares. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Price Performance

Shares of NYSE ANET opened at $77.48 on Tuesday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock has a market capitalization of $97.71 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.10 and a beta of 1.08. The company’s 50-day moving average is $98.31 and its 200 day moving average is $101.83.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.