Aware Super Pty Ltd as trustee of Aware Super Invests $43.16 Million in Arista Networks, Inc. (NYSE:ANET)

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 390,491 shares of the technology company’s stock, valued at approximately $43,161,000. Arista Networks comprises 0.7% of Aware Super Pty Ltd as trustee of Aware Super’s holdings, making the stock its 21st largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after buying an additional 72,311,318 shares in the last quarter. FMR LLC raised its position in Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after purchasing an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC raised its position in Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after purchasing an additional 18,293,874 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after purchasing an additional 14,454,822 shares during the period. Finally, Norges Bank acquired a new stake in Arista Networks during the fourth quarter valued at approximately $1,397,833,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,031 shares of company stock valued at $39,364,943. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ANET shares. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley reduced their target price on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Piper Sandler reduced their price target on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. 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, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.50.

Arista Networks Stock Down 0.2 %

ANET stock opened at $72.50 on Monday. The business’s fifty day moving average is $88.74 and its 200-day moving average is $100.14. The company has a market cap of $91.43 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for 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%. Research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.