277,088 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 277,088 shares of the technology company's stock, valued at approximately $30,627,000.

Other hedge funds also recently modified their holdings of the company. Swedbank AB lifted its position in 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 buying an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of 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 acquiring an additional 4,512,166 shares during the last quarter. DSM Capital Partners LLC lifted its position in shares of Arista Networks by 259.7% during the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company's stock worth $573,527,000 after purchasing an additional 3,746,407 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company's stock worth $512,056,000 after purchasing an additional 3,496,497 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Arista Networks by 306.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company's stock valued at $268,966,000 after purchasing an additional 1,835,421 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Down 4.9 %

Arista Networks stock traded down $5.10 during midday trading on Friday, hitting $98.31. 13,984,341 shares of the stock were exchanged, compared to its average volume of 10,062,921. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a market capitalization of $123.84 billion, a PE ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09. The company has a fifty day simple moving average of $113.94 and a two-hundred day simple moving average of $101.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ANET. Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Piper Sandler restated a "neutral" rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday. Citigroup raised their price target on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday. Rosenblatt Securities reissued a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday. Finally, UBS Group raised their target price on shares of Arista Networks from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $113.79.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now directly owns 8,128 shares of the company's stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 260,056 shares of company stock valued at $30,225,623. Company 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.