National Pension Service Purchases 2,105,495 Shares of Arista Networks, Inc. (NYSE:ANET)

National Pension Service grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 342.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,720,596 shares of the technology company’s stock after acquiring an additional 2,105,495 shares during the period. National Pension Service’s holdings in Arista Networks were worth $300,707,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ANET. Advisor OS LLC grew its stake in Arista Networks by 311.8% in the fourth quarter. Advisor OS LLC now owns 4,427 shares of the technology company’s stock worth $489,000 after purchasing an additional 3,352 shares during the period. Cutter & CO Brokerage Inc. boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 4,316 shares of the technology company’s stock valued at $477,000 after buying an additional 3,237 shares in the last quarter. GraniteShares Advisors LLC purchased a new stake in shares of Arista Networks in the 4th quarter worth about $1,300,000. Denali Advisors LLC increased its stake in shares of Arista Networks by 298.3% in the 4th quarter. Denali Advisors LLC now owns 58,556 shares of the technology company’s stock worth $6,472,000 after acquiring an additional 43,854 shares in the last quarter. Finally, Richard Bernstein Advisors LLC lifted its position in Arista Networks by 300.0% during the 4th quarter. Richard Bernstein Advisors LLC now owns 34,228 shares of the technology company’s stock valued at $3,783,000 after acquiring an additional 25,671 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 260,224 shares of company stock valued at $30,242,856. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ANET. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group raised their price target on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company upped their price target on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Price Performance

Shares of NYSE ANET opened at $92.85 on Wednesday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a fifty day moving average price of $112.78 and a 200-day moving average price of $102.13. The stock has a market cap of $117.10 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business 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%. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current 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.