Calamos Wealth Management LLC Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Calamos Wealth Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 306.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,476 shares of the technology company’s stock after buying an additional 12,426 shares during the quarter. Calamos Wealth Management LLC’s holdings in Arista Networks were worth $1,821,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ANET. Swedbank AB lifted 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 worth $746,165,000 after buying an additional 5,034,022 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after buying an additional 3,496,497 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Arista Networks by 473.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock worth $146,593,000 after buying an additional 1,094,910 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after buying an additional 872,919 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Arista Networks by 335.0% in the 4th quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock valued at $79,278,000 after purchasing an additional 552,350 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ANET. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI upped their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 288 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,832 shares of company stock valued at $28,538,497. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 2.8 %

Shares of NYSE ANET opened at $115.43 on Thursday. The stock has a market cap of $145.41 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company’s 50-day moving average price is $112.28 and its 200 day moving average price is $99.36.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. As a group, research analysts expect that Arista Networks, Inc. will post 1.97 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.