MV Capital Management Inc. Purchases 1,047 Shares of Arista Networks, Inc. (NYSE:ANET)

MV Capital Management Inc. raised its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,396 shares of the technology company’s stock after buying an additional 1,047 shares during the quarter. MV Capital Management Inc.’s holdings in Arista Networks were worth $154,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after buying an additional 72,311,318 shares in the last quarter. Norges Bank acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $1,397,833,000. State Street Corp raised its holdings in Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares in the last quarter. Swedbank AB boosted its position in Arista Networks by 293.2% during 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. Finally, Charles Schwab Investment Management Inc. boosted its position in Arista Networks by 320.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after purchasing an additional 4,919,882 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler reiterated 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. Finally, Rosenblatt Securities reissued a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Performance

ANET opened at $77.91 on Friday. The stock has a fifty day moving average of $99.16 and a 200-day moving average of $101.66. The company has a market capitalization of $98.25 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58.

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