APG Asset Management N.V. Acquires 1,106,833 Shares of Arista Networks, Inc. (NYSE:ANET)

APG Asset Management N.V. lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 2,518.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,150,779 shares of the technology company's stock after acquiring an additional 1,106,833 shares during the quarter. APG Asset Management N.V. owned approximately 0.09% of Arista Networks worth $122,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Arista Networks during the 3rd quarter worth $123,000. iA Global Asset Management Inc. acquired a new stake in shares of Arista Networks during the 3rd quarter valued at about $2,961,000. Orion Portfolio Solutions LLC grew its stake in shares of Arista Networks by 0.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,723 shares of the technology company's stock valued at $4,883,000 after purchasing an additional 97 shares during the period. MML Investors Services LLC lifted its holdings in shares of Arista Networks by 1.7% during the third quarter. MML Investors Services LLC now owns 64,178 shares of the technology company's stock valued at $24,633,000 after acquiring an additional 1,101 shares during the period. Finally, LRI Investments LLC boosted its position in Arista Networks by 3.1% in the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company's stock valued at $528,000 after buying an additional 41 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a report on Tuesday. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. 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. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley dropped their target price on Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $108.50.

Arista Networks Stock Down 0.2 %

NYSE ANET traded down $0.15 during trading on Friday, reaching $72.50. 11,224,936 shares of the stock traded hands, compared to its average volume of 9,205,073. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The firm has a market cap of $91.43 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock's 50-day moving average price is $88.74 and its 200 day moving average price is $100.12.

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

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company's stock, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,031 shares of company stock valued at $39,364,943 over the last 90 days. 3.54% of the stock is owned by company insiders.

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.