Arista Networks, Inc. (NYSE:ANET) Holdings Increased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,469 shares of the technology company’s stock after buying an additional 144 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Arista Networks were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Syon Capital LLC grew its position in Arista Networks by 18.2% during the fourth quarter. Syon Capital LLC now owns 2,821 shares of the technology company’s stock valued at $664,000 after purchasing an additional 435 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Arista Networks in the 4th quarter valued at $2,373,000. American International Group Inc. increased its holdings in Arista Networks by 1.3% in the 4th quarter. American International Group Inc. now owns 74,512 shares of the technology company’s stock valued at $17,548,000 after buying an additional 981 shares during the period. Wellington Management Group LLP grew its holdings in shares of Arista Networks by 1.2% in the 4th quarter. Wellington Management Group LLP now owns 525,976 shares of the technology company’s stock worth $123,873,000 after purchasing an additional 6,402 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new stake in shares of Arista Networks in the 4th quarter worth about $235,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $416.93 on Monday. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $417.71. The stock’s fifty day moving average is $359.35 and its 200 day moving average is $327.93. The stock has a market capitalization of $130.65 billion, a P/E ratio of 58.07, a PEG ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. Equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ANET shares. Rosenblatt Securities upped their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Bank of America upped their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. KeyCorp upped their target price on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler upped their target price on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company upped their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $369.50.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 588 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $206,094.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 588 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $206,094.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,197 shares of company stock valued at $21,326,894. 3.54% of the stock is currently owned by company insiders.

Arista Networks Company 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.