Swiss National Bank Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Swiss National Bank boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 281.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,017,500 shares of the technology company's stock after acquiring an additional 2,226,900 shares during the period. Swiss National Bank owned about 0.24% of Arista Networks worth $333,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Arista Networks by 16,405.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 609,205 shares of the technology company's stock worth $67,335,000 after purchasing an additional 605,514 shares during the last quarter. Rakuten Securities Inc. increased its position in Arista Networks by 559.9% during the fourth quarter. Rakuten Securities Inc. now owns 3,656 shares of the technology company's stock worth $404,000 after buying an additional 3,102 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Arista Networks by 327.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 55,557 shares of the technology company's stock worth $6,141,000 after acquiring an additional 42,556 shares during the last quarter. Essential Planning LLC. purchased a new stake in shares of Arista Networks in the fourth quarter valued at $221,000. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Arista Networks by 18,879.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 478,481 shares of the technology company's stock valued at $52,887,000 after acquiring an additional 475,960 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ANET. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities restated a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Piper Sandler reiterated a "neutral" rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

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Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction dated 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 $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 over the last 90 days. Corporate insiders own 3.54% of the company's stock.

Arista Networks Trading Up 1.5 %

ANET stock opened at $80.34 on Thursday. The stock has a 50-day moving average price of $107.01 and a two-hundred day moving average price of $101.88. The company has a market cap of $101.32 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks 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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