APG Asset Management US Inc. Buys 25,627 Shares of Arista Networks, Inc. (NYSE:ANET)

APG Asset Management US Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 191.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,012 shares of the technology company's stock after buying an additional 25,627 shares during the period. APG Asset Management US Inc.'s holdings in Arista Networks were worth $4,312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Anchor Investment Management LLC raised its stake in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after acquiring an additional 35 shares in the last quarter. LRI Investments LLC grew its holdings in shares of Arista Networks by 3.1% in the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company's stock worth $528,000 after purchasing an additional 41 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of Arista Networks by 3.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company's stock worth $453,000 after purchasing an additional 43 shares in the last quarter. Old North State Trust LLC increased its position in shares of Arista Networks by 6.9% during the 3rd quarter. Old North State Trust LLC now owns 1,371 shares of the technology company's stock worth $526,000 after purchasing an additional 89 shares in the last quarter. Finally, Caitlin John LLC lifted its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

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Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares of the company's stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock valued at $39,364,943 in the last ninety days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANET. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Barclays restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Piper Sandler cut their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $108.50.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $0.15 on Friday, hitting $72.50. 11,224,936 shares of the company's stock traded hands, compared to its average volume of 9,149,886. The firm's 50-day moving average price is $88.74 and its two-hundred day moving average price is $100.14. The stock has a market capitalization of $91.43 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share 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.