Arista Networks, Inc. (NYSE:ANET) Holdings Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 345.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,329,652 shares of the technology company’s stock after purchasing an additional 1,031,351 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.11% of Arista Networks worth $146,966,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in shares of Arista Networks during the third quarter valued at approximately $123,000. Royal London Asset Management Ltd. grew its stake in Arista Networks by 3.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 138,349 shares of the technology company’s stock worth $53,101,000 after buying an additional 4,457 shares during the last quarter. SYM FINANCIAL Corp acquired a new stake in Arista Networks in the third quarter worth $225,000. Stifel Financial Corp lifted its stake in Arista Networks by 4.8% in the third quarter. Stifel Financial Corp now owns 162,252 shares of the technology company’s stock valued at $62,276,000 after buying an additional 7,505 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Arista Networks during the third quarter valued at $9,714,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

ANET stock opened at $64.28 on Friday. The firm has a market cap of $81.07 billion, a PE ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The firm has a 50 day simple moving average of $94.01 and a 200 day simple moving average of $101.21.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 491,001 shares of company stock valued at $48,840,431. 3.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ANET. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.