Great Lakes Retirement Inc. Acquires 11,833 Shares of Arista Networks, Inc. $ANET

Great Lakes Retirement Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 23.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,884 shares of the technology company’s stock after buying an additional 11,833 shares during the quarter. Arista Networks accounts for approximately 1.0% of Great Lakes Retirement Inc.’s portfolio, making the stock its 26th largest holding. Great Lakes Retirement Inc.’s holdings in Arista Networks were worth $9,163,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ANET. Brighton Jones LLC increased its stake in Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Arista Networks in the fourth quarter worth approximately $202,000. Bison Wealth LLC bought a new position in shares of Arista Networks in the fourth quarter worth approximately $251,000. Sivia Capital Partners LLC increased its stake in shares of Arista Networks by 48.4% in the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after buying an additional 3,496 shares during the period. Finally, Mission Wealth Management LP raised its holdings in Arista Networks by 6.7% during the 2nd quarter. Mission Wealth Management LP now owns 7,225 shares of the technology company’s stock valued at $739,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $124.55 on Wednesday. The company has a 50-day simple moving average of $134.19 and a two-hundred day simple moving average of $137.19. The firm has a market capitalization of $156.50 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 2.29 and a beta of 1.46. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue was up 28.9% compared to the same quarter last year. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Yvonne Wassenaar sold 1,815 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares in the company, valued at $1,665,300.56. This trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 188,237 shares of company stock worth $24,836,400. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating and issued a $184.00 price target (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $175.00 target price (up from $159.00) on shares of Arista Networks in a research note on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research report on Friday, February 13th. Needham & Company LLC increased their price objective on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, UBS Group set a $200.00 price objective on Arista Networks in a research report on Tuesday, February 24th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.88.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.