TCW Group Inc. Purchases 463,908 Shares of Arista Networks, Inc. (NYSE:ANET)

TCW Group Inc. grew its position in Arista Networks, Inc. (NYSE:ANET) by 218.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 676,716 shares of the technology company’s stock after acquiring an additional 463,908 shares during the quarter. TCW Group Inc. owned 0.05% of Arista Networks worth $74,797,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks in the 4th quarter worth approximately $242,000. Silver Oak Securities Incorporated lifted its position in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares during the period. Proactive Wealth Strategies LLC lifted its position in shares of Arista Networks by 387.6% in the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after acquiring an additional 4,865 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in shares of Arista Networks by 292.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock worth $66,599,000 after acquiring an additional 449,088 shares during the period. Finally, 5T Wealth LLC bought a new stake in shares of Arista Networks in the 4th quarter worth approximately $1,046,000. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,056 shares of company stock valued at $30,225,623. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $98.31 on Friday. The business has a fifty day moving average price of $113.66 and a 200 day moving average price of $101.85. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The stock has a market capitalization of $123.97 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 3.27 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts expect that Arista Networks, Inc. will post 2.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group raised their target price on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays raised their target price on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler restated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday. Finally, Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. 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. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

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.