Valliance Asset Management Ltd Takes Position in Arista Networks, Inc. (NYSE:ANET)

Valliance Asset Management Ltd acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,000 shares of the technology company’s stock, valued at approximately $2,763,000. Arista Networks comprises approximately 5.0% of Valliance Asset Management Ltd’s holdings, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB lifted its holdings in Arista Networks by 293.2% during 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 during the period. WCM Investment Management LLC boosted its holdings in Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after acquiring an additional 4,512,166 shares during the period. DSM Capital Partners LLC lifted its holdings in Arista Networks by 259.7% in the 4th quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after buying an additional 3,746,407 shares during the period. Jennison Associates LLC raised its position in shares of Arista Networks by 307.7% in the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after acquiring an additional 3,496,497 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Arista Networks by 306.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock valued at $268,966,000 after buying an additional 1,835,421 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

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

Arista Networks Price Performance

Arista Networks stock opened at $98.31 on Friday. The firm’s 50 day simple moving average is $113.66 and its 200-day simple moving average is $101.85. The company has a market cap of $123.97 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, analysts expect that Arista Networks, Inc. will post 2.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. 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. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group upped their target price on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $113.79.

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.