TCW Group Inc. Buys 463,908 Shares of Arista Networks, Inc. (NYSE:ANET)

TCW Group Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 218.0% during the 4th quarter, Holdings Channel reports. The firm owned 676,716 shares of the technology company’s stock after acquiring an additional 463,908 shares during the period. TCW Group Inc.’s holdings in Arista Networks were worth $74,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zions Bancorporation N.A. lifted its holdings in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC lifted its holdings in Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares in the last quarter. Altman Advisors Inc. lifted its holdings in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares in the last quarter. HM Payson & Co. lifted its holdings in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its holdings in Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after acquiring an additional 30 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock valued at $30,225,623 over the last 90 days. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Performance

NYSE:ANET opened at $98.31 on Friday. The stock’s 50-day simple moving average is $113.66 and its 200 day simple moving average is $101.85. The company has a market cap of $123.97 billion, a P/E ratio of 44.28, a P/E/G ratio of 3.27 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly 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 the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts predict that Arista Networks, Inc. will post 2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ANET shares. Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Barclays boosted their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.79.

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.