Xponance Inc. Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Xponance Inc. raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 323.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 274,158 shares of the technology company’s stock after purchasing an additional 209,487 shares during the period. Xponance Inc.’s holdings in Arista Networks were worth $30,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its stake in shares of Arista Networks by 4.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,421 shares of the technology company’s stock valued at $1,697,000 after purchasing an additional 207 shares during the period. Claro Advisors LLC lifted its holdings in Arista Networks by 166.4% in the 3rd quarter. Claro Advisors LLC now owns 1,569 shares of the technology company’s stock worth $602,000 after purchasing an additional 980 shares in the last quarter. Aljian Capital Management LLC purchased a new position in Arista Networks in the 3rd quarter worth approximately $235,000. Quest Partners LLC increased its stake in Arista Networks by 149.2% in the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 1,734 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in Arista Networks in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $85.06 on Tuesday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The business’s fifty day moving average price is $105.07 and its two-hundred day moving average price is $101.92. The firm has a market capitalization of $107.27 billion, a PE ratio of 38.32, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 29.91% and a net margin of 40.72%. Equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ANET. Piper Sandler restated a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. The trade was a 86.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock worth $49,112,111 in the last quarter. 3.54% of the stock is owned by company insiders.

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.