TIAA Trust National Association Has $18.58 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

TIAA Trust National Association increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 302.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 168,064 shares of the technology company's stock after buying an additional 126,309 shares during the quarter. TIAA Trust National Association's holdings in Arista Networks were worth $18,576,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC increased its position in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock worth $51,000 after acquiring an additional 128 shares during the last quarter. Anchor Investment Management LLC increased its holdings in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after purchasing an additional 35 shares during the last quarter. Caitlin John LLC raised its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares in the last quarter. Finally, New Millennium Group LLC lifted its position in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ANET shares. Piper Sandler reaffirmed a "neutral" rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. StockNews.com cut Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and raised their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Trading Down 1.3 %

Shares of NYSE ANET traded down $1.05 during mid-day trading on Friday, reaching $77.91. The company had a trading volume of 9,780,873 shares, compared to its average volume of 8,868,821. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The stock has a market cap of $98.25 billion, a PE ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08. The company has a 50-day moving average price of $99.16 and a two-hundred day moving average price of $101.80.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (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 for the quarter, compared to the consensus estimate of $1.90 billion. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on 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 directly owns 163,784 shares of the company's stock, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by corporate insiders.

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.