AustralianSuper Pty Ltd Buys 413,186 Shares of Arista Networks, Inc. (NYSE:ANET)

AustralianSuper Pty Ltd grew its stake in Arista Networks, Inc. (NYSE:ANET) by 3,644.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,524 shares of the technology company’s stock after purchasing an additional 413,186 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Arista Networks were worth $46,923,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ANET. Creative Planning raised its position in shares of Arista Networks by 13.1% in the third quarter. Creative Planning now owns 109,174 shares of the technology company’s stock valued at $41,903,000 after purchasing an additional 12,612 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of Arista Networks in the third quarter valued at about $207,000. Bleakley Financial Group LLC grew its stake in shares of Arista Networks by 26.3% in the third quarter. Bleakley Financial Group LLC now owns 6,426 shares of the technology company’s stock valued at $2,466,000 after acquiring an additional 1,337 shares in the last quarter. Teamwork Financial Advisors LLC grew its stake in shares of Arista Networks by 9.6% in the third quarter. Teamwork Financial Advisors LLC now owns 55,267 shares of the technology company’s stock valued at $21,213,000 after acquiring an additional 4,847 shares in the last quarter. Finally, Secure Asset Management LLC acquired a new position in shares of Arista Networks in the third quarter valued at about $284,000. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ANET has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler restated a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Rosenblatt Securities increased their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.59.

Insider Activity

In related news, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. 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 firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, 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. In the last three months, insiders have sold 335,832 shares of company stock worth $37,787,297. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 2.8 %

ANET opened at $106.64 on Friday. The company’s 50 day moving average is $113.97 and its 200-day moving average is $100.72. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a market cap of $134.35 billion, a P/E ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09.

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.