Westover Capital Advisors LLC Has $442,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Westover Capital Advisors LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,000 shares of the technology company’s stock after buying an additional 3,000 shares during the period. Westover Capital Advisors LLC’s holdings in Arista Networks were worth $442,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Swedbank AB raised its holdings 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 acquiring an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 period. Bank of New York Mellon Corp raised its stake in shares of Arista Networks by 294.1% in the fourth 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 purchasing an additional 4,579,622 shares in the last quarter. WCM Investment Management LLC lifted its position in Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after purchasing an additional 4,512,166 shares during the period. Finally, DSM Capital Partners LLC boosted its stake in Arista Networks by 259.7% during the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock worth $573,527,000 after buying an additional 3,746,407 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup lifted their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Barclays boosted their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.79.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value 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 $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 431,441 shares of company stock worth $45,713,162 in the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $85.74 on Tuesday. The business has a fifty day moving average of $111.25 and a 200-day moving average of $102.27. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The firm has a market cap of $108.13 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.90 billion. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.