Metis Global Partners LLC Buys 34,227 Shares of Arista Networks, Inc. (NYSE:ANET)

Metis Global Partners LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 314.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,103 shares of the technology company’s stock after purchasing an additional 34,227 shares during the quarter. Metis Global Partners LLC’s holdings in Arista Networks were worth $4,985,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its holdings in Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares in the last quarter. Swedbank AB increased its holdings in Arista Networks by 293.2% in the fourth 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in Arista Networks by 294.1% in the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after purchasing an additional 4,579,622 shares in the last quarter. WCM Investment Management LLC increased its holdings in Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Arista Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after purchasing an additional 236,151 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 17,433 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.14, for a total value of $1,623,709.62. Following the completion of the transaction, the insider now owns 17,433 shares in the company, valued at $1,623,709.62. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 433,441 shares of company stock worth $46,538,462 in the last ninety days. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $93.10 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market capitalization of $117.41 billion, a PE ratio of 41.94, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s fifty day moving average price is $111.80 and its 200-day moving average price is $102.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ANET. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup boosted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.79.

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.