Meitav Investment House Ltd. Makes New $939,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Meitav Investment House Ltd. acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,459 shares of the technology company’s stock, valued at approximately $939,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Swedbank AB grew its position in Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. WCM Investment Management LLC grew its holdings in Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares during the last quarter. DSM Capital Partners LLC raised its position in Arista Networks by 259.7% during the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after acquiring an additional 3,746,407 shares during the last quarter. Jennison Associates LLC grew its holdings in Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after buying an additional 3,496,497 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of 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 worth $268,966,000 after purchasing an additional 1,835,421 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays raised their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Trading Down 6.5 %

NYSE ANET opened at $103.82 on Thursday. The business has a fifty day simple moving average of $114.08 and a 200 day simple moving average of $101.54. The firm has a market capitalization of $130.79 billion, a P/E ratio of 49.91, a PEG ratio of 2.87 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. As a group, sell-side analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction 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. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the 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 owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 259,944 shares of company stock valued at $30,214,186 in the last 90 days. Insiders own 3.54% of the company’s stock.

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.