Great Lakes Retirement Inc. Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Great Lakes Retirement Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,262 shares of the technology company’s stock after purchasing an additional 303 shares during the period. Great Lakes Retirement Inc.’s holdings in Arista Networks were worth $4,323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GQG Partners LLC acquired a new stake in Arista Networks during the 1st quarter worth $881,848,000. Legal & General Group Plc grew its holdings in shares of Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after buying an additional 20,278 shares during the last quarter. Swedbank AB acquired a new position in Arista Networks in the 1st quarter valued at about $521,767,000. Ameriprise Financial Inc. raised its stake in Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after acquiring an additional 884,703 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Arista Networks by 18.7% during the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after acquiring an additional 148,759 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock valued at $21,326,894 over the last three months. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of several analyst reports. The Goldman Sachs Group upped their price target on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Piper Sandler raised their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley boosted their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Rosenblatt Securities raised their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Arista Networks Trading Down 0.6 %

NYSE:ANET opened at $394.00 on Thursday. The company has a market capitalization of $123.47 billion, a P/E ratio of 54.87, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The firm has a 50-day moving average price of $370.52 and a two-hundred day moving average price of $333.77. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

About Arista Networks

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.