Arista Networks, Inc. (NYSE:ANET) Stake Lifted by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 349.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,724 shares of the technology company's stock after acquiring an additional 27,770 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Arista Networks were worth $3,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks during the fourth quarter valued at approximately $242,000. GHE LLC increased its stake in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock worth $3,136,000 after buying an additional 21,597 shares during the period. Colonial River Investments LLC lifted its holdings in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after buying an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new position in Arista Networks in the 4th quarter valued at about $630,000. Finally, Berkshire Capital Holdings Inc. boosted its position in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock valued at $8,505,000 after buying an additional 55,430 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several research firms recently commented on ANET. Piper Sandler reiterated a "neutral" rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley raised their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. 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 company. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares of the company's stock, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by company insiders.

Arista Networks Trading Down 0.7 %

NYSE ANET traded down $0.64 during trading hours on Tuesday, reaching $86.87. The company's stock had a trading volume of 7,776,843 shares, compared to its average volume of 8,572,881. The stock has a market cap of $109.55 billion, a PE ratio of 39.13, a PEG ratio of 3.10 and a beta of 1.08. The business has a 50-day simple moving average of $101.47 and a 200 day simple moving average of $101.98. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58.

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, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for 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, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current 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.