UniSuper Management Pty Ltd Purchases 139,686 Shares of Arista Networks, Inc. (NYSE:ANET)

UniSuper Management Pty Ltd lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 271.8% during the fourth quarter, HoldingsChannel reports. The firm owned 191,084 shares of the technology company’s stock after purchasing an additional 139,686 shares during the period. UniSuper Management Pty Ltd’s holdings in Arista Networks were worth $21,121,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ANET. Sava Infond d.o.o. acquired a new position in shares of Arista Networks during the fourth quarter worth approximately $24,692,000. WINTON GROUP Ltd increased its position in Arista Networks by 21,714.2% during the fourth quarter. WINTON GROUP Ltd now owns 162,952 shares of the technology company’s stock worth $18,011,000 after acquiring an additional 162,205 shares during the period. Artisan Partners Limited Partnership increased its position in Arista Networks by 208.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,803,726 shares of the technology company’s stock worth $530,956,000 after acquiring an additional 3,246,034 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Arista Networks by 333.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,648,229 shares of the technology company’s stock valued at $189,876,000 after purchasing an additional 1,267,677 shares during the period. Finally, Korea Investment CORP grew its position in Arista Networks by 259.9% in the 4th quarter. Korea Investment CORP now owns 1,054,460 shares of the technology company’s stock worth $116,549,000 after purchasing an additional 761,433 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $112.00 to $115.00 in a research note 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, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $81.70 on Thursday. The firm has a market cap of $103.04 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 3.10 and a beta of 1.08. The firm’s 50-day simple moving average is $100.78 and its 200-day simple moving average is $101.84. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.