Winslow Capital Management LLC Has $20.57 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Winslow Capital Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 368.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,105 shares of the technology company's stock after purchasing an additional 146,415 shares during the period. Winslow Capital Management LLC's holdings in Arista Networks were worth $20,570,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ANET. Martingale Asset Management L P increased its position in Arista Networks by 370.8% in the fourth quarter. Martingale Asset Management L P now owns 262,465 shares of the technology company's stock worth $29,010,000 after purchasing an additional 206,718 shares during the period. Faithward Advisors LLC lifted its stake in shares of Arista Networks by 293.4% in the 4th quarter. Faithward Advisors LLC now owns 58,065 shares of the technology company's stock valued at $6,418,000 after purchasing an additional 43,305 shares during the period. APG Asset Management N.V. boosted its position in shares of Arista Networks by 2,518.6% in the 4th quarter. APG Asset Management N.V. now owns 1,150,779 shares of the technology company's stock worth $122,835,000 after purchasing an additional 1,106,833 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Arista Networks by 294.5% during the fourth quarter. Advisory Services Network LLC now owns 178,417 shares of the technology company's stock worth $19,720,000 after purchasing an additional 133,187 shares during the period. Finally, Greenland Capital Management LP increased its holdings in Arista Networks by 496.0% in the fourth quarter. Greenland Capital Management LP now owns 44,841 shares of the technology company's stock valued at $4,956,000 after purchasing an additional 37,317 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

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Arista Networks Stock Performance

Arista Networks stock traded down $0.15 during mid-day trading on Friday, reaching $72.50. The company's stock had a trading volume of 11,224,936 shares, compared to its average volume of 9,149,886. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The business's 50 day simple moving average is $88.74 and its 200 day simple moving average is $100.14. The company has a market capitalization of $91.43 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating 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 company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANET. 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. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Piper Sandler reduced their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.50.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares of the company's stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,031 shares of company stock valued at $39,364,943 in the last 90 days. 3.54% of the stock is currently owned by 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.