Marietta Investment Partners LLC Buys 84,671 Shares of Arista Networks, Inc. (NYSE:ANET)

Marietta Investment Partners LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 299.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 112,964 shares of the technology company’s stock after purchasing an additional 84,671 shares during the period. Arista Networks makes up approximately 2.8% of Marietta Investment Partners LLC’s portfolio, making the stock its 7th biggest holding. Marietta Investment Partners LLC’s holdings in Arista Networks were worth $12,486,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the period. Swedbank AB lifted its stake in Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after buying an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Arista Networks by 320.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after buying an additional 4,919,882 shares in the last quarter. Amundi lifted its stake in Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after buying an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after buying an additional 4,579,622 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares of the company’s stock, valued at $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ANET. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Citigroup raised their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley raised their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One 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 MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Up 0.3 %

NYSE:ANET opened at $83.26 on Friday. The company has a fifty day simple moving average of $102.53 and a two-hundred day simple moving average of $101.60. The company has a market cap of $104.99 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58.

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

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.