Meeder Asset Management Inc. Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Meeder Asset Management Inc. grew its stake in Arista Networks, Inc. (NYSE:ANET) by 142.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 444 shares of the technology company’s stock after acquiring an additional 261 shares during the period. Meeder Asset Management Inc.’s holdings in Arista Networks were worth $49,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Caitlin John LLC raised its position in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the period. Cranbrook Wealth Management LLC grew its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont increased its stake in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC lifted its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 in the last quarter. 3.54% of the stock is owned by insiders.

Analysts Set New Price Targets

ANET has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Piper Sandler reissued a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Price Performance

NYSE ANET opened at $78.35 on Wednesday. The firm’s fifty day moving average price is $97.45 and its 200 day moving average price is $101.75. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company has a market capitalization of $98.81 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.