M&G PLC Raises Holdings in Arista Networks, Inc. $ANET

M&G PLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 365.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,791 shares of the technology company’s stock after purchasing an additional 82,272 shares during the quarter. M&G PLC’s holdings in Arista Networks were worth $15,299,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bare Financial Services Inc increased its stake in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its position in Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. Finally, Solstein Capital LLC raised its stake in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after purchasing an additional 316 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $141.46 on Tuesday. The firm has a market capitalization of $178.13 billion, a PE ratio of 51.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. The business has a 50 day simple moving average of $133.30 and a two-hundred day simple moving average of $137.23. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research note on Friday. Evercore ISI reiterated an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a research report on Friday. Rosenblatt Securities boosted their price objective on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating and issued a $177.00 target price on shares of Arista Networks in a report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $175.41.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction 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 trade represents a 70.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the completion of the sale, the insider directly owned 522,400 shares of the company’s stock, valued at approximately $67,091,832. This trade represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,464 shares of company stock worth $20,351,388. 3.54% of the stock is currently owned by company insiders.

Arista Networks 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.