Vanguard Personalized Indexing Management LLC Raises Holdings in Arista Networks, Inc. $ANET

Vanguard Personalized Indexing Management LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,597 shares of the technology company’s stock after acquiring an additional 6,508 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Arista Networks were worth $23,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. James Investment Research Inc. acquired a new position in shares of Arista Networks in the 3rd quarter valued at $451,000. Instrumental Wealth LLC acquired a new position in shares of Arista Networks in the third quarter worth about $219,000. Sage Rhino Capital LLC purchased a new stake in shares of Arista Networks during the 3rd quarter worth about $202,000. Cullen Frost Bankers Inc. increased its stake in shares of Arista Networks by 570.5% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 161,120 shares of the technology company’s stock valued at $23,477,000 after purchasing an additional 137,089 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in Arista Networks by 433.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 58,631 shares of the technology company’s stock worth $8,543,000 after purchasing an additional 47,636 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Barclays reissued an “overweight” rating and set a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Morgan Stanley cut their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Finally, Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at $1,668,843.36. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares in the company, valued at $1,235,162.35. This represents a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 216,464 shares of company stock worth $27,687,068. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $136.30 on Monday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The stock has a market cap of $171.64 billion, a PE ratio of 51.82, a P/E/G ratio of 2.29 and a beta of 1.41. The stock has a 50 day moving average price of $128.62 and a 200 day moving average price of $134.12.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company earned $2.40 EPS. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.