Calamos Wealth Management LLC Increases Position in Arista Networks, Inc. (NYSE:ANET)

Calamos Wealth Management LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 306.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,476 shares of the technology company’s stock after buying an additional 12,426 shares during the quarter. Calamos Wealth Management LLC’s holdings in Arista Networks were worth $1,821,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Swedbank AB boosted its holdings in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of 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 acquiring an additional 3,496,497 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Arista Networks by 473.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock worth $146,593,000 after acquiring an additional 1,094,910 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after acquiring an additional 872,919 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Arista Networks by 335.0% during the 4th quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock worth $79,278,000 after acquiring an additional 552,350 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Arista Networks stock opened at $115.43 on Thursday. The firm has a 50 day simple moving average of $112.28 and a 200-day simple moving average of $99.36. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The stock has a market cap of $145.41 billion, a price-to-earnings ratio of 55.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,832 shares of company stock valued at $28,538,497. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANET. The Goldman Sachs Group increased their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Piper Sandler restated a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

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.