Commerzbank Aktiengesellschaft FI Buys 796 Shares of Arista Networks, Inc. (NYSE:ANET)

Commerzbank Aktiengesellschaft FI boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 15.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,987 shares of the technology company’s stock after purchasing an additional 796 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Arista Networks were worth $668,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ANET. Stephens Inc. AR raised its position in Arista Networks by 4.7% in the third quarter. Stephens Inc. AR now owns 2,751 shares of the technology company’s stock worth $1,056,000 after acquiring an additional 124 shares during the period. Farther Finance Advisors LLC raised its position in shares of Arista Networks by 16.4% in the third quarter. Farther Finance Advisors LLC now owns 2,159 shares of the technology company’s stock valued at $829,000 after purchasing an additional 304 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Arista Networks by 8.7% in the third quarter. Janney Montgomery Scott LLC now owns 46,090 shares of the technology company’s stock valued at $17,690,000 after purchasing an additional 3,706 shares during the period. Van ECK Associates Corp raised its position in shares of Arista Networks by 9.6% in the third quarter. Van ECK Associates Corp now owns 67,995 shares of the technology company’s stock valued at $26,793,000 after purchasing an additional 5,941 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Arista Networks by 3.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 231,364 shares of the technology company’s stock valued at $88,802,000 after purchasing an additional 8,604 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 17,433 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total transaction of $1,683,504.81. The disclosure for this sale can be found here. Insiders sold a total of 431,441 shares of company stock valued at $45,713,162 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ANET shares. Citigroup boosted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. 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 research report on Friday, January 17th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Price Performance

ANET stock opened at $85.26 on Wednesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market cap of $107.53 billion, a PE ratio of 38.41, a P/E/G ratio of 3.10 and a beta of 1.09. The firm has a 50 day simple moving average of $110.66 and a two-hundred day simple moving average of $102.25.

Arista Networks (NYSE:ANET) last released its quarterly 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. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.