Commerce Bank Buys 133,889 Shares of Arista Networks, Inc. (NYSE:ANET)

Commerce Bank increased its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 283.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,154 shares of the technology company's stock after acquiring an additional 133,889 shares during the quarter. Commerce Bank's holdings in Arista Networks were worth $20,023,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ANET. Vanguard Group Inc. lifted its position in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. FMR LLC grew its holdings in shares of Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after buying an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC raised its position in Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock valued at $2,665,829,000 after buying an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares in the last quarter. Finally, Norges Bank acquired a new position in Arista Networks during the 4th quarter worth approximately $1,397,833,000. Institutional investors own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ANET shares. Needham & Company LLC restated a "buy" rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and raised their price objective for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Piper Sandler dropped their target price on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Evercore ISI decreased their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. One equities 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 company. Based on data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $104.29.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The shares were 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 directly owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares of the company's stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,863 shares of company stock worth $39,344,612 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Trading Up 3.7 %

Shares of NYSE:ANET traded up $2.52 during trading on Wednesday, reaching $71.19. 6,299,427 shares of the stock were exchanged, compared to its average volume of 9,083,783. The firm has a market cap of $89.39 billion, a PE ratio of 32.07, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The stock has a 50-day moving average price of $82.57 and a 200-day moving average price of $98.87.

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 for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations 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 Company 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.