Versor Investments LP Buys 6,729 Shares of Arista Networks, Inc. (NYSE:ANET)

Versor Investments LP raised its stake in Arista Networks, Inc. (NYSE:ANET) by 202.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,060 shares of the technology company’s stock after purchasing an additional 6,729 shares during the quarter. Versor Investments LP’s holdings in Arista Networks were worth $1,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of 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 acquiring an additional 5,034,022 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after acquiring an additional 4,579,622 shares during the period. WCM Investment Management LLC boosted its stake in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares during the period. DSM Capital Partners LLC boosted its stake in shares of Arista Networks by 259.7% during the 4th quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after acquiring an additional 3,746,407 shares during the period. Finally, Jennison Associates LLC boosted its stake 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 worth $512,056,000 after acquiring an additional 3,496,497 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arista Networks news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 416,008 shares of company stock worth $44,854,958 in the last 90 days. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Citigroup lifted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Barclays lifted their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Down 5.1 %

Shares of ANET stock opened at $91.50 on Friday. The firm has a market capitalization of $115.40 billion, a P/E ratio of 41.22, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The stock’s fifty day simple moving average is $112.19 and its 200 day simple moving average is $102.02.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

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.