Napean Trading & Investment Co Singapore PTE Ltd Buys 24,244 Shares of Arista Networks, Inc. (NYSE:ANET)

Napean Trading & Investment Co Singapore PTE Ltd grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 138.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,784 shares of the technology company's stock after acquiring an additional 24,244 shares during the period. Arista Networks accounts for approximately 1.1% of Napean Trading & Investment Co Singapore PTE Ltd's investment portfolio, making the stock its 29th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Arista Networks were worth $4,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zevenbergen Capital Investments LLC raised its stake in Arista Networks by 299.5% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 253,100 shares of the technology company's stock worth $27,975,000 after buying an additional 189,750 shares during the period. Prudential Financial Inc. raised its position in shares of Arista Networks by 201.2% during the fourth quarter. Prudential Financial Inc. now owns 1,640,616 shares of the technology company's stock worth $181,337,000 after purchasing an additional 1,095,948 shares during the period. Interchange Capital Partners LLC lifted its holdings in shares of Arista Networks by 289.7% in the 4th quarter. Interchange Capital Partners LLC now owns 9,301 shares of the technology company's stock worth $1,028,000 after purchasing an additional 6,914 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in Arista Networks in the 4th quarter valued at $2,344,000. Finally, Corebridge Financial Inc. increased its stake in Arista Networks by 299.7% during the 4th quarter. Corebridge Financial Inc. now owns 282,450 shares of the technology company's stock valued at $31,219,000 after purchasing an additional 211,777 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ANET. Morgan Stanley raised their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Barclays restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Finally, Rosenblatt Securities reaffirmed a "sell" rating and issued a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Trading Down 0.7 %

ANET traded down $0.64 during trading on Tuesday, hitting $86.87. 7,775,434 shares of the company's stock 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 company's 50 day simple moving average is $102.03 and its two-hundred day simple moving average is $101.92. The stock has a market capitalization of $109.55 billion, a price-to-earnings ratio of 39.13, a PEG 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 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current 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.