Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Qtron Investments LLC

Qtron Investments LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,544 shares of the technology company’s stock after buying an additional 12,408 shares during the period. Qtron Investments LLC’s holdings in Arista Networks were worth $1,829,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in Arista Networks by 358.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 694,506 shares of the technology company’s stock worth $76,764,000 after buying an additional 542,978 shares in the last quarter. Petros Family Wealth LLC acquired a new stake in Arista Networks during the 4th quarter valued at approximately $477,000. Timucuan Asset Management Inc. FL increased its holdings in Arista Networks by 299.5% during the 4th quarter. Timucuan Asset Management Inc. FL now owns 1,168,603 shares of the technology company’s stock worth $129,166,000 after purchasing an additional 876,106 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Arista Networks by 327.8% in the 4th quarter. Sterling Capital Management LLC now owns 43,790 shares of the technology company’s stock valued at $4,840,000 after purchasing an additional 33,554 shares in the last quarter. Finally, Concorde Asset Management LLC purchased a new position in shares of Arista Networks during the 4th quarter valued at approximately $668,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,031 shares of company stock valued at $39,364,943 in the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 0.2 %

NYSE:ANET opened at $72.50 on Friday. The firm has a market capitalization of $91.43 billion, a P/E ratio of 32.66, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The stock’s fifty day simple moving average is $88.74 and its 200-day simple moving average is $100.12.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Citigroup lifted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler dropped their price objective on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.50.

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.