Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. raised its position in Arista Networks, Inc. (NYSE:ANET) by 142.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,969 shares of the technology company’s stock after purchasing an additional 12,333 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Arista Networks were worth $2,318,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Capital International Sarl grew its position in Arista Networks by 155.1% in the fourth quarter. Capital International Sarl now owns 142,382 shares of the technology company’s stock worth $15,737,000 after acquiring an additional 86,563 shares during the period. Alpha DNA Investment Management LLC lifted its stake in shares of Arista Networks by 217.0% in the 4th quarter. Alpha DNA Investment Management LLC now owns 19,133 shares of the technology company’s stock valued at $2,115,000 after purchasing an additional 13,097 shares during the last quarter. Arrow Capital Pty Ltd purchased a new position in shares of Arista Networks during the 4th quarter worth $3,040,000. Fairfield Bush & CO. grew its holdings in shares of Arista Networks by 291.7% during the 4th quarter. Fairfield Bush & CO. now owns 17,994 shares of the technology company’s stock worth $1,989,000 after purchasing an additional 13,400 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Arista Networks by 2,886.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,469,132 shares of the technology company’s stock worth $162,383,000 after purchasing an additional 1,419,946 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’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 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 approximately $1,101,013.60. This represents a 86.04 % 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 ninety days. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $71.11 on Friday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The firm has a market capitalization of $89.67 billion, a P/E ratio of 32.03, a P/E/G ratio of 3.10 and a beta of 1.30. The company’s fifty day moving average price is $85.15 and its 200 day moving average price is $99.44.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for 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, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ANET. Citigroup lowered their target price on shares of Arista Networks from $121.00 to $92.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler lowered their price objective on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.07.

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.