Arista Networks, Inc. (NYSE:ANET) Shares Bought by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,800 shares of the technology company’s stock after acquiring an additional 7,350 shares during the quarter. Arista Networks makes up 1.0% of Yorktown Management & Research Co Inc’s portfolio, making the stock its 8th biggest position. Yorktown Management & Research Co Inc’s holdings in Arista Networks were worth $1,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Swedbank AB increased its stake in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Jennison Associates LLC increased its position in Arista Networks by 307.7% in the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after acquiring an additional 3,496,497 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Arista Networks by 473.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock valued at $146,593,000 after purchasing an additional 1,094,910 shares in the last quarter. International Assets Investment Management LLC raised 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 in the last quarter. Finally, Fifth Third Bancorp lifted its position in Arista Networks by 335.0% in the fourth quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock worth $79,278,000 after purchasing an additional 552,350 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note 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 report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Down 0.3 %

NYSE ANET opened at $115.11 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The stock has a market cap of $145.01 billion, a P/E ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. The company’s 50-day simple moving average is $112.58 and its 200 day simple moving average is $99.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. Research analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the sale, the insider now directly owns 288 shares of the company’s stock, valued at $28,391.76. This represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock valued at $28,538,497 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks 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.