Arista Networks, Inc. (NYSE:ANET) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in Arista Networks, Inc. (NYSE:ANET) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,442 shares of the technology company’s stock after buying an additional 5,350 shares during the period. Russell Investments Group Ltd.’s holdings in Arista Networks were worth $22,276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aubrey Capital Management Ltd increased its holdings in Arista Networks by 12.4% in the fourth quarter. Aubrey Capital Management Ltd now owns 15,400 shares of the technology company’s stock valued at $3,626,000 after buying an additional 1,700 shares in the last quarter. Dohj LLC purchased a new position in Arista Networks in the fourth quarter valued at $392,000. Fulton Breakefield Broenniman LLC increased its holdings in Arista Networks by 1.8% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after buying an additional 40 shares in the last quarter. Headlands Technologies LLC purchased a new position in Arista Networks in the fourth quarter valued at $230,000. Finally, Absolute Capital Management LLC purchased a new position in Arista Networks in the fourth quarter valued at $330,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $4,929,639.61. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider John F. Mccool sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,514 shares of company stock worth $95,369,397. 18.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent analyst reports. KeyCorp lifted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Piper Sandler boosted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 8th. Finally, Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Price Performance

NYSE:ANET opened at $255.24 on Thursday. The firm has a market capitalization of $80.05 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 2.25 and a beta of 1.09. The company’s 50-day moving average is $279.08 and its two-hundred day moving average is $248.62. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 6.7 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.