Arista Networks, Inc. (NYSE:ANET) Stock Position Lifted by Twin Capital Management Inc.

Twin Capital Management Inc. lifted its position in Arista Networks, Inc. (NYSE:ANET) by 308.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,617 shares of the technology company’s stock after acquiring an additional 56,359 shares during the quarter. Arista Networks accounts for approximately 0.9% of Twin Capital Management Inc.’s holdings, making the stock its 15th largest position. Twin Capital Management Inc.’s holdings in Arista Networks were worth $8,247,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Stock Yards Bank & Trust Co. bought a new position in Arista Networks during the 4th quarter worth $242,000. GHE LLC lifted its position in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC raised its holdings in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new stake in Arista Networks in the 4th quarter valued at approximately $630,000. Finally, Berkshire Capital Holdings Inc. grew its stake in shares of Arista Networks by 257.6% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Down 9.8 %

Shares of NYSE:ANET opened at $64.28 on Monday. The firm has a market cap of $81.07 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1 year low of $57.80 and a 1 year high of $133.58. The business has a fifty day simple moving average of $94.01 and a 200 day simple moving average of $101.37.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during 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%. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the sale, the director now directly owns 139,784 shares in the company, valued at approximately $10,840,249.20. This represents a 5.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were 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 owns 12,976 shares in the company, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,001 shares of company stock worth $39,362,831 over the last ninety days. 3.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ANET shares. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.