Yousif Capital Management LLC Grows Position in Arista Networks, Inc. (NYSE:ANET)

Yousif Capital Management LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 251.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,925 shares of the technology company’s stock after acquiring an additional 93,668 shares during the quarter. Yousif Capital Management LLC’s holdings in Arista Networks were worth $14,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Swedbank AB boosted its stake 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 worth $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Jennison Associates LLC boosted its position in Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after acquiring an additional 3,496,497 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Arista Networks by 473.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock worth $146,593,000 after acquiring an additional 1,094,910 shares during the period. International Assets Investment Management LLC raised its holdings in Arista Networks by 39,841.1% in the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after acquiring an additional 872,919 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Arista Networks by 335.0% during the fourth quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock worth $79,278,000 after purchasing an additional 552,350 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of several analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Rosenblatt Securities upped their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group increased their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.83.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This represents a 50.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 in the last quarter. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $115.11 on Friday. The company has a market cap of $145.01 billion, a P/E ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The business’s 50-day simple moving average is $112.58 and its 200 day simple moving average is $99.48.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Analysts predict that Arista Networks, Inc. will post 1.97 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.