EFG Asset Management North America Corp. Purchases 37,352 Shares of Arista Networks, Inc. (NYSE:ANET)

EFG Asset Management North America Corp. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 337.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,418 shares of the technology company’s stock after purchasing an additional 37,352 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Arista Networks were worth $5,354,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ANET. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 304.2% in the fourth 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 grew its stake in Arista Networks by 3.8% in the 3rd 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 period. Swedbank AB increased its position in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Arista Networks by 320.0% during 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 purchasing an additional 4,919,882 shares during the period. Finally, Amundi boosted its holdings in shares of Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock worth $732,493,000 after buying an additional 4,201,973 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 5.3 %

Shares of NYSE ANET opened at $87.58 on Tuesday. The business has a 50-day moving average of $102.03 and a 200-day moving average of $101.92. The firm has a market capitalization of $110.44 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS 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 during the quarter, compared to analysts’ expectations of $1.90 billion. On average, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. One research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.