Glynn Capital Management LLC Purchases Shares of 106,013 Arista Networks, Inc. (NYSE:ANET)

Glynn Capital Management LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, Holdings Channel reports. The firm purchased 106,013 shares of the technology company’s stock, valued at approximately $11,718,000. Arista Networks makes up 2.8% of Glynn Capital Management LLC’s portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ANET. Vinva Investment Management Ltd lifted its stake in shares of Arista Networks by 282.1% in the 4th quarter. Vinva Investment Management Ltd now owns 31,007 shares of the technology company’s stock valued at $3,456,000 after purchasing an additional 22,892 shares in the last quarter. Bank of Marin lifted its stake in shares of Arista Networks by 299.3% in the 4th quarter. Bank of Marin now owns 11,252 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 8,434 shares in the last quarter. West Tower Group LLC lifted its stake in shares of Arista Networks by 300.0% in the 4th quarter. West Tower Group LLC now owns 2,000 shares of the technology company’s stock valued at $221,000 after purchasing an additional 1,500 shares in the last quarter. Andar Capital Management HK Ltd lifted its stake in shares of Arista Networks by 442.2% in the 4th quarter. Andar Capital Management HK Ltd now owns 48,800 shares of the technology company’s stock valued at $5,394,000 after purchasing an additional 39,800 shares in the last quarter. Finally, Fox Hill Wealth Management lifted its stake in shares of Arista Networks by 263.7% in the 4th quarter. Fox Hill Wealth Management now owns 30,882 shares of the technology company’s stock valued at $3,432,000 after purchasing an additional 22,392 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 1.3 %

NYSE:ANET opened at $83.96 on Wednesday. The stock has a market capitalization of $105.88 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm has a 50 day moving average of $104.44 and a 200-day moving average of $101.89.

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

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent research reports. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. 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 90 days. Corporate insiders own 3.54% of the company’s stock.

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.