Robeco Institutional Asset Management B.V. Purchases 878,023 Shares of Arista Networks, Inc. $ANET

Robeco Institutional Asset Management B.V. raised its position in Arista Networks, Inc. (NYSE:ANET) by 28.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,946,087 shares of the technology company’s stock after purchasing an additional 878,023 shares during the period. Arista Networks accounts for 0.8% of Robeco Institutional Asset Management B.V.’s investment portfolio, making the stock its 16th biggest position. Robeco Institutional Asset Management B.V.’s holdings in Arista Networks were worth $574,984,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SteelPeak Wealth LLC raised its position in shares of Arista Networks by 23.8% during the 2nd quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock valued at $4,134,000 after buying an additional 7,779 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in Arista Networks by 7.8% in the second quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock worth $3,998,000 after acquiring an additional 2,815 shares in the last quarter. Vanguard Group Inc. increased its stake in Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after acquiring an additional 1,136,167 shares during the last quarter. Holocene Advisors LP purchased a new stake in Arista Networks during the second quarter valued at about $247,451,000. Finally, Soltis Investment Advisors LLC raised its position in Arista Networks by 99.3% during the second quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock valued at $4,136,000 after purchasing an additional 20,141 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the completion of the sale, the director directly owned 25,784 shares in the company, valued at approximately $3,302,672.56. This represents a 23.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,202,160.00. Following the completion of the sale, the insider directly owned 532,400 shares in the company, valued at $65,570,384. The trade was a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 208,464 shares of company stock worth $27,418,668 in the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock opened at $137.19 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The stock has a 50 day moving average price of $132.94 and a two-hundred day moving average price of $131.17. The company has a market capitalization of $172.76 billion, a P/E ratio of 52.16, a PEG ratio of 2.25 and a beta of 1.41.

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 the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the business earned $2.40 earnings per share. The business’s revenue was up 27.5% on a year-over-year basis. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. UBS Group reiterated a “buy” rating and set a $155.00 price target on shares of Arista Networks in a research report on Wednesday, December 3rd. BNP Paribas Exane upgraded shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective for the company in a report on Thursday, September 25th. Finally, Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $159.00 in a research note on Monday. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

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.