Acadian Asset Management LLC Has $96 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Acadian Asset Management LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 31.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,961 shares of the technology company’s stock after buying an additional 64,785 shares during the period. Acadian Asset Management LLC owned 0.09% of Arista Networks worth $95,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new position in shares of Arista Networks during the 1st quarter worth about $881,848,000. Norges Bank acquired a new position in Arista Networks during the fourth quarter worth approximately $586,051,000. Swedbank AB bought a new stake in Arista Networks in the first quarter valued at approximately $521,767,000. Vanguard Group Inc. lifted its position in shares of Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Arista Networks by 145.5% in the fourth quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock valued at $187,215,000 after buying an additional 471,099 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Down 4.3 %

NYSE ANET opened at $314.31 on Friday. The firm’s 50 day simple moving average is $343.09 and its 200 day simple moving average is $311.03. The firm has a market capitalization of $98.49 billion, a price-to-earnings ratio of 43.78, a P/E/G ratio of 2.78 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business posted $1.41 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $337.23, for a total transaction of $280,575.36. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $5,962,563.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The disclosure for this sale can be found here. Insiders have sold a total of 126,300 shares of company stock worth $44,194,544 over the last 90 days. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Citigroup increased their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. KeyCorp lifted their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Evercore ISI raised their price objective on shares of Arista Networks from $340.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley boosted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $358.63.

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.