Metis Global Partners LLC Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Metis Global Partners LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 314.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 45,103 shares of the technology company’s stock after purchasing an additional 34,227 shares during the quarter. Metis Global Partners LLC’s holdings in Arista Networks were worth $4,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation N.A. boosted its holdings in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC boosted its holdings in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after acquiring an additional 27 shares during the period. Altman Advisors Inc. boosted its holdings in Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares during the period. HM Payson & Co. boosted its holdings in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares during the period. Finally, Beacon Financial Advisory LLC boosted its holdings in Arista Networks by 4.9% during the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after acquiring an additional 30 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total value of $1,683,504.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 433,441 shares of company stock worth $46,538,462. 3.54% of the stock is owned by insiders.

Arista Networks Stock Up 1.7 %

ANET opened at $93.10 on Friday. The stock has a market cap of $117.41 billion, a PE ratio of 41.94, a PEG ratio of 3.10 and a beta of 1.09. The business has a 50 day moving average of $111.80 and a 200-day moving average of $102.08. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANET. Piper Sandler restated a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Rosenblatt Securities restated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. UBS Group increased their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks 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.