Fairfield Bush & CO. Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Fairfield Bush & CO. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 291.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,994 shares of the technology company’s stock after purchasing an additional 13,400 shares during the quarter. Arista Networks comprises about 1.2% of Fairfield Bush & CO.’s holdings, making the stock its 24th biggest holding. Fairfield Bush & CO.’s holdings in Arista Networks were worth $1,989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its position in shares of Arista Networks by 2,886.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,469,132 shares of the technology company’s stock valued at $162,383,000 after acquiring an additional 1,419,946 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in shares of Arista Networks in the 4th quarter worth $4,306,000. First Commonwealth Financial Corp PA raised its stake in shares of Arista Networks by 124.3% in the fourth quarter. First Commonwealth Financial Corp PA now owns 11,728 shares of the technology company’s stock worth $1,296,000 after purchasing an additional 6,500 shares during the last quarter. Gratus Wealth Advisors LLC lifted its holdings in shares of Arista Networks by 299.7% during the fourth quarter. Gratus Wealth Advisors LLC now owns 13,169 shares of the technology company’s stock valued at $1,456,000 after purchasing an additional 9,874 shares in the last quarter. Finally, Zacks Investment Management boosted its position in shares of Arista Networks by 443.9% during the fourth quarter. Zacks Investment Management now owns 439,344 shares of the technology company’s stock valued at $48,561,000 after buying an additional 358,564 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,031 shares of company stock worth $39,364,943 over the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock opened at $71.94 on Thursday. The stock has a fifty day simple moving average of $86.13 and a two-hundred day simple moving average of $99.61. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The firm has a market capitalization of $90.73 billion, a PE ratio of 32.41, a PEG ratio of 3.10 and a beta of 1.30.

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, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ANET shares. Piper Sandler decreased their target price on Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Evercore ISI cut their price objective on Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.29.

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.