Marietta Investment Partners LLC Has $12.49 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Marietta Investment Partners LLC increased its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 299.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,964 shares of the technology company's stock after buying an additional 84,671 shares during the quarter. Arista Networks comprises approximately 2.8% of Marietta Investment Partners LLC's holdings, making the stock its 7th largest position. Marietta Investment Partners LLC's holdings in Arista Networks were worth $12,486,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. State Street Corp boosted its stake in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock worth $4,313,229,000 after acquiring an additional 411,109 shares in the last quarter. Swedbank AB boosted its position 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 valued at $746,165,000 after purchasing an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Arista Networks by 320.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company's stock worth $713,721,000 after purchasing an additional 4,919,882 shares in the last quarter. Amundi increased its stake in Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company's stock worth $732,493,000 after purchasing an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company's stock worth $678,308,000 after buying an additional 4,579,622 shares during the period. Institutional investors own 82.47% of the company's stock.

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Arista Networks Stock Down 0.7 %

Shares of ANET traded down $0.64 during mid-day trading on Tuesday, hitting $86.87. 7,776,843 shares of the company's stock were exchanged, compared to its average volume of 8,572,881. 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 $101.47 and a two-hundred day moving average of $101.98. The stock has a market cap of $109.55 billion, a price-to-earnings ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ANET shares. Rosenblatt Securities reissued a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. 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 restated a "neutral" rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Finally, Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. 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 at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 491,001 shares of company stock valued at $49,112,111. Corporate insiders own 3.54% of the company's stock.

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.