Arista Networks, Inc. (NYSE:ANET) Shares Bought by Crown Wealth Group LLC

Crown Wealth Group LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 303.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,076 shares of the technology company’s stock after buying an additional 2,314 shares during the quarter. Crown Wealth Group LLC’s holdings in Arista Networks were worth $340,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Swedbank AB boosted its position 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in Arista Networks by 294.1% during 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 buying an additional 4,579,622 shares in the last quarter. WCM Investment Management LLC grew its position 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 buying an additional 4,512,166 shares during the last quarter. DSM Capital Partners LLC increased its holdings in shares of Arista Networks by 259.7% in the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock valued at $573,527,000 after buying an additional 3,746,407 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after acquiring an additional 3,496,497 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANET. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group boosted their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Evercore ISI boosted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Up 3.8 %

Shares of NYSE ANET opened at $96.43 on Thursday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The company’s fifty day moving average is $112.54 and its 200-day moving average is $102.09. The stock has a market cap of $121.61 billion, a price-to-earnings ratio of 43.44, a P/E/G ratio of 3.10 and a beta of 1.09.

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

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’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 completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 416,008 shares of company stock worth $44,854,958. Corporate insiders own 3.54% of the company’s stock.

Arista Networks 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.