Optas LLC Has $2.62 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Optas LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 304.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 23,703 shares of the technology company’s stock after purchasing an additional 17,845 shares during the quarter. Optas LLC’s holdings in Arista Networks were worth $2,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truist Financial Corp increased its holdings in Arista Networks by 3.3% during the 2nd quarter. Truist Financial Corp now owns 22,881 shares of the technology company’s stock valued at $8,019,000 after purchasing an additional 740 shares in the last quarter. Czech National Bank grew its holdings in shares of Arista Networks by 8.5% during the third quarter. Czech National Bank now owns 52,476 shares of the technology company’s stock worth $20,141,000 after purchasing an additional 4,108 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Arista Networks by 46.9% in the third quarter. GAMMA Investing LLC now owns 4,796 shares of the technology company’s stock valued at $1,841,000 after buying an additional 1,532 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Arista Networks by 87.1% in the third quarter. Diversified Trust Co now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after buying an additional 2,401 shares during the last quarter. Finally, Everpar Advisors LLC lifted its position in Arista Networks by 1.5% during the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after buying an additional 29 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the transaction, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents 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 sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on ANET shares. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Barclays lowered their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on 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 Up 2.8 %

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

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

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.