LVZ Inc. Has $817,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

LVZ Inc. lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 358.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,394 shares of the technology company's stock after purchasing an additional 5,780 shares during the quarter. LVZ Inc.'s holdings in Arista Networks were worth $817,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ANET. Swedbank AB raised its stake in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company's stock worth $746,165,000 after buying an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company's stock valued at $678,308,000 after acquiring an additional 4,579,622 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company's stock valued at $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. Finally, DSM Capital Partners LLC grew its stake in shares of Arista Networks by 259.7% in the 4th quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company's stock worth $573,527,000 after purchasing an additional 3,746,407 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now owns 163,784 shares of the company's stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,289 shares of company stock valued at $51,018,617. 3.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on ANET shares. Citigroup increased their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. StockNews.com cut Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Piper Sandler reaffirmed a "neutral" rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $114.00.

Arista Networks Stock Up 2.7 %

Shares of Arista Networks stock traded up $2.31 on Wednesday, hitting $87.83. 10,263,882 shares of the company traded hands, compared to its average volume of 10,978,523. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The company has a 50-day moving average price of $110.13 and a 200 day moving average price of $102.14. The company has a market cap of $110.76 billion, a PE ratio of 39.56, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current 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.