Aware Super Pty Ltd as trustee of Aware Super Buys New Shares in Arista Networks, Inc. (NYSE:ANET)

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 390,491 shares of the technology company’s stock, valued at approximately $43,161,000. Arista Networks makes up about 0.7% of Aware Super Pty Ltd as trustee of Aware Super’s portfolio, making the stock its 21st biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. LaSalle St. Investment Advisors LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $331,000. XTX Topco Ltd acquired a new stake in Arista Networks during the 4th quarter valued at $740,000. Strategies Wealth Advisors LLC acquired a new position in shares of Arista Networks in the fourth quarter valued at $309,000. CreativeOne Wealth LLC raised its position in shares of Arista Networks by 191.8% in the fourth quarter. CreativeOne Wealth LLC now owns 33,351 shares of the technology company’s stock valued at $3,686,000 after purchasing an additional 21,920 shares during the period. Finally, Mariner LLC lifted its stake in shares of Arista Networks by 308.8% during the 4th quarter. Mariner LLC now owns 996,549 shares of the technology company’s stock worth $110,168,000 after buying an additional 752,802 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ANET shares. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Barclays reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Piper Sandler cut their target price on Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.50.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock valued at $39,364,943 in the last three months. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 0.2 %

Shares of ANET stock opened at $72.50 on Monday. The firm has a market capitalization of $91.43 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 3.10 and a beta of 1.30. The business’s 50-day moving average price is $88.74 and its 200-day moving average price is $100.14. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

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.