Vontobel Holding Ltd. Grows Stock Position in Arista Networks, Inc. (NYSE:ANET)

Vontobel Holding Ltd. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 443.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,081 shares of the technology company's stock after acquiring an additional 254,626 shares during the quarter. Vontobel Holding Ltd.'s holdings in Arista Networks were worth $34,494,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Swedbank AB grew its position in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company's stock valued at $746,165,000 after acquiring an additional 5,034,022 shares during the period. WCM Investment Management LLC grew its holdings in Arista Networks by 292.8% during the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company's stock valued at $674,627,000 after purchasing an additional 4,512,166 shares during the period. Jennison Associates LLC raised its stake in shares of Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company's stock valued at $512,056,000 after buying an additional 3,496,497 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Arista Networks by 306.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company's stock valued at $268,966,000 after buying an additional 1,835,421 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Arista Networks by 322.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company's stock worth $259,557,000 after acquiring an additional 1,773,777 shares during the period. 82.47% of the stock is currently owned by institutional investors.

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Arista Networks Stock Performance

ANET traded up $3.47 on Tuesday, reaching $110.34. The company had a trading volume of 8,892,638 shares, compared to its average volume of 9,028,214. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The company has a market cap of $139.00 billion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 3.10 and a beta of 1.09. The business has a 50 day simple moving average of $113.95 and a 200 day simple moving average of $101.32.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now directly owns 288 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock valued at $37,787,297 in the last quarter. Insiders own 3.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Rosenblatt Securities reaffirmed a "sell" rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Finally, Piper Sandler reiterated a "neutral" rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Arista Networks has an average rating of "Moderate Buy" and a consensus price target of $107.59.

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.