Arista Networks, Inc. (NYSE:ANET) Shares Bought by ING Groep NV

ING Groep NV grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 359.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,936 shares of the technology company’s stock after purchasing an additional 222,984 shares during the period. ING Groep NV’s holdings in Arista Networks were worth $31,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks during the 3rd quarter worth approximately $44,000. HM Payson & Co. increased its position in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC increased its position in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC increased its position in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares during the period. Finally, Transcendent Capital Group LLC grew its holdings in shares of Arista Networks by 75.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 6.5 %

Shares of Arista Networks stock opened at $103.82 on Thursday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm has a market cap of $130.79 billion, a PE ratio of 49.91, a P/E/G ratio of 2.87 and a beta of 1.09. The business’s fifty day moving average is $114.08 and its two-hundred day moving average is $101.54.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results 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 return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANET. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday. Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday. The Goldman Sachs Group upped their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares in the company, 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. Insiders have sold a total of 259,944 shares of company stock valued at $30,214,186 in the last quarter. 3.54% of the stock is currently owned by company insiders.

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.