Arista Networks, Inc. (NYSE:ANET) Stock Holdings Lifted by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 18,879.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 478,481 shares of the technology company’s stock after acquiring an additional 475,960 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Arista Networks were worth $52,887,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks in the 4th quarter valued at approximately $242,000. GHE LLC grew its position in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its position in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the last quarter. Unified Investment Management bought a new stake in Arista Networks during the 4th quarter worth approximately $630,000. Finally, Silver Oak Securities Incorporated grew its position in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research analyst reports. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Up 1.9 %

Shares of Arista Networks stock opened at $79.07 on Wednesday. The company has a market capitalization of $99.72 billion, a PE ratio of 35.62, a PEG 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. The stock’s fifty day simple moving average is $107.62 and its 200 day simple moving average is $102.03.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 in the last 90 days. 3.54% of the stock is currently owned by company insiders.

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.