Epoch Investment Partners Inc. Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

Epoch Investment Partners Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 310.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,308,517 shares of the technology company’s stock after acquiring an additional 1,746,190 shares during the period. Arista Networks accounts for approximately 1.2% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 12th biggest position. Epoch Investment Partners Inc. owned about 0.18% of Arista Networks worth $255,160,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ANET. Caitlin John LLC raised its stake in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the last quarter. New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Finally, Trust Co. of Vermont grew its position in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $71.11 on Friday. The company’s 50 day moving average price is $84.23 and its 200 day moving average price is $99.27. The firm has a market capitalization of $89.67 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,031 shares of company stock worth $39,364,943 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANET. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Evercore ISI dropped their price target on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday. Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Piper Sandler dropped their target price on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.07.

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.