Bfsg LLC Buys 7,588 Shares of Arista Networks, Inc. (NYSE:ANET)

Bfsg LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 276.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,333 shares of the technology company’s stock after purchasing an additional 7,588 shares during the quarter. Bfsg LLC’s holdings in Arista Networks were worth $1,142,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its stake in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Arista Networks by 307.7% in the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after acquiring an additional 3,496,497 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Arista Networks by 306.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after acquiring an additional 1,835,421 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Arista Networks by 322.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock worth $259,557,000 after acquiring an additional 1,773,777 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 337,320 shares of company stock valued at $37,946,706. 3.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Evercore ISI raised their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.59.

Arista Networks Price Performance

NYSE:ANET opened at $111.05 on Wednesday. The firm has a market cap of $139.89 billion, a PE ratio of 53.39, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company has a 50-day moving average of $113.95 and a 200 day moving average of $101.32. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Sell-side analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

About Arista Networks

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.