OneDigital Investment Advisors LLC Grows Position in Arista Networks, Inc. (NYSE:ANET)

OneDigital Investment Advisors LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 289.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,197 shares of the technology company's stock after acquiring an additional 12,776 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Arista Networks were worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ANET. Stifel Financial Corp increased its stake in Arista Networks by 324.0% in the 4th quarter. Stifel Financial Corp now owns 688,006 shares of the technology company's stock valued at $76,045,000 after buying an additional 525,754 shares during the last quarter. State of Tennessee Department of Treasury increased its position in shares of Arista Networks by 309.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 392,960 shares of the technology company's stock valued at $43,434,000 after acquiring an additional 296,901 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its holdings in Arista Networks by 298.0% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 52,048 shares of the technology company's stock worth $5,753,000 after acquiring an additional 38,972 shares during the period. TD Waterhouse Canada Inc. boosted its position in Arista Networks by 318.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 501,156 shares of the technology company's stock worth $55,418,000 after purchasing an additional 381,449 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Arista Networks by 281.0% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 168,179 shares of the technology company's stock valued at $18,589,000 after purchasing an additional 124,040 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Rosenblatt Securities reduced their target price on shares of Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a research report on Tuesday. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Barclays reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Morgan Stanley dropped their price target on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.29.

Arista Networks Price Performance

Shares of NYSE ANET opened at $70.81 on Thursday. The stock has a market capitalization of $88.91 billion, a P/E ratio of 31.90, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm's 50 day simple moving average is $81.85 and its two-hundred day simple moving average is $98.68.

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

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 410,863 shares of company stock worth $39,344,612 in the last ninety days. 3.54% of the stock is owned by company insiders.

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.

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