Tanager Wealth Management LLP Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Tanager Wealth Management LLP bought a new stake in Arista Networks, Inc. (NYSE:ANETFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,160 shares of the technology company’s stock, valued at approximately $349,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its holdings in shares of Arista Networks by 293.2% in the fourth 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 during the last quarter. Jennison Associates LLC increased its position in Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after purchasing an additional 3,496,497 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Arista Networks by 473.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock valued at $146,593,000 after purchasing an additional 1,094,910 shares during the last quarter. International Assets Investment Management LLC boosted its position in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after buying an additional 872,919 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Arista Networks by 335.0% during the fourth quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock worth $79,278,000 after buying an additional 552,350 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $115.11 on Friday. The company has a market capitalization of $145.01 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50-day moving average is $112.58 and its 200-day moving average is $99.48. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANETGet Free Report) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $0.41 EPS. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Buying and Selling

In other news, insider John F. Mccool sold 6,340 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now directly owns 288 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock valued at $28,538,497 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ANET has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. UBS Group lifted their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Evercore ISI upped their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Get Our Latest Research Report on ANET

Arista Networks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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