Corebridge Financial Inc. Has $31.22 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Corebridge Financial Inc. raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 299.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,450 shares of the technology company's stock after acquiring an additional 211,777 shares during the quarter. Corebridge Financial Inc.'s holdings in Arista Networks were worth $31,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Caitlin John LLC raised its position in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 195 shares during the period. Institutional investors own 82.47% of the company's stock.

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Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. 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 business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now directly owns 163,784 shares of the company's stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company's stock.

Analyst Ratings Changes

ANET has been the topic of several research analyst reports. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Piper Sandler reiterated a "neutral" rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and an average target price of $114.00.

Arista Networks Trading Down 0.7 %

NYSE ANET traded down $0.64 during trading on Tuesday, hitting $86.87. 7,775,434 shares of the company traded hands, compared to its average volume of 8,570,789. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The business has a fifty day simple moving average of $102.03 and a 200 day simple moving average of $101.92. The company has a market capitalization of $109.55 billion, a P/E ratio of 39.13, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS 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.