Pacer Advisors Inc. Has $76.21 Million Stake in Arista Networks, Inc. $ANET

Pacer Advisors Inc. raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 118.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 523,005 shares of the technology company’s stock after purchasing an additional 283,686 shares during the quarter. Pacer Advisors Inc.’s holdings in Arista Networks were worth $76,207,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Arista Networks by 321.7% during the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after buying an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Arista Networks in the fourth quarter worth about $202,000. Bison Wealth LLC bought a new position in shares of Arista Networks in the fourth quarter worth about $251,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Arista Networks by 211.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,979 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of Arista Networks by 14.9% during the first quarter. Gabelli Funds LLC now owns 116,000 shares of the technology company’s stock valued at $8,988,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup raised their price target on shares of Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. JPMorgan Chase & Co. increased their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. UBS Group restated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $145.00 price target (up previously from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a report on Monday, November 24th. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.56.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the sale, the director directly owned 25,784 shares in the company, valued at $3,302,672.56. This trade represents a 23.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the transaction, the director directly owned 8,980 shares in the company, valued at $1,052,007. The trade was a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 216,464 shares of company stock valued at $28,598,588. Insiders own 3.39% of the company’s stock.

Arista Networks Stock Down 0.1%

ANET stock opened at $131.13 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market cap of $165.12 billion, a P/E ratio of 49.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.41. The business’s fifty day moving average is $135.23 and its 200-day moving average is $128.70.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating 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 quarter in the prior year, the company posted $2.40 earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. Research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks Company Profile

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.