Clare Market Investments LLC Invests $2.80 Million in Arista Networks, Inc. (NYSE:ANET)

Clare Market Investments LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,360 shares of the technology company's stock, valued at approximately $2,803,000. Arista Networks makes up 0.7% of Clare Market Investments LLC's holdings, making the stock its 24th biggest holding.

A number of other institutional investors have also recently made changes to their positions in ANET. Swedbank AB boosted its stake in shares of Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company's stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Arista Networks by 320.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company's stock worth $713,721,000 after acquiring an additional 4,919,882 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Arista Networks by 294.1% in the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company's stock worth $678,308,000 after acquiring an additional 4,579,622 shares during the last quarter. WCM Investment Management LLC boosted 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. Finally, Amundi boosted its stake in shares of Arista Networks by 196.3% in the fourth quarter. Amundi now owns 6,342,064 shares of the technology company's stock worth $732,493,000 after acquiring an additional 4,201,973 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Piper Sandler reissued a "neutral" rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Needham & Company LLC reissued a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of the business's stock in a transaction on 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 owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares in the company, 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 90 days, insiders have sold 411,001 shares of company stock worth $42,324,111. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of Arista Networks stock traded down $5.83 during trading hours on Monday, hitting $77.53. The company's stock had a trading volume of 15,798,118 shares, compared to its average volume of 8,734,648. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The firm has a fifty day moving average of $108.24 and a 200-day moving average of $102.10. The stock has a market cap of $97.77 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data 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 firm 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%. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.