Financial Engines Advisors L.L.C. Has $286,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Financial Engines Advisors L.L.C. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 286.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,583 shares of the technology company’s stock after acquiring an additional 1,914 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Arista Networks were worth $286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after purchasing an additional 72,311,318 shares during the period. State Street Corp raised its stake in Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares during the period. Swedbank AB boosted its holdings in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Arista Networks by 320.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after acquiring an additional 4,919,882 shares during the period. Finally, Amundi grew its stake in Arista Networks by 196.3% in the fourth quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after acquiring an additional 4,201,973 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. 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. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

NYSE ANET opened at $77.91 on Friday. The company has a market capitalization of $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58. The company has a 50-day simple moving average of $99.16 and a 200 day simple moving average of $101.66.

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

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Piper Sandler reissued a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Company 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.