TIAA Trust National Association Purchases 126,309 Shares of Arista Networks, Inc. (NYSE:ANET)

TIAA Trust National Association lifted its position in Arista Networks, Inc. (NYSE:ANET) by 302.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 168,064 shares of the technology company’s stock after purchasing an additional 126,309 shares during the quarter. TIAA Trust National Association’s holdings in Arista Networks were worth $18,576,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ANET. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. State Street Corp lifted its position in Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after purchasing an additional 411,109 shares during the last quarter. Swedbank AB grew its stake in Arista Networks by 293.2% in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Arista Networks by 320.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after buying an additional 4,919,882 shares during the last quarter. Finally, Amundi raised its position in shares of Arista Networks by 196.3% during the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after buying an additional 4,201,973 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Piper Sandler reiterated a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Down 0.7 %

NYSE ANET opened at $86.87 on Wednesday. The stock’s 50 day moving average is $101.47 and its 200 day moving average is $101.98. The firm has a market capitalization of $109.55 billion, a PE ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by insiders.

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.