Generali Asset Management SPA SGR Buys Shares of 82,852 Arista Networks, Inc. (NYSE:ANET)

Generali Asset Management SPA SGR bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, HoldingsChannel reports. The firm bought 82,852 shares of the technology company’s stock, valued at approximately $9,158,000.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp raised its stake in shares of 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 increased its stake in shares of Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Arista Networks by 320.0% in 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 acquiring an additional 4,919,882 shares in the last quarter. Amundi boosted its holdings in Arista Networks by 196.3% in the fourth quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after acquiring an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 4,579,622 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ANET. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. 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. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 over the last ninety days. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Up 1.9 %

NYSE ANET opened at $85.06 on Tuesday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The firm has a market capitalization of $107.27 billion, a P/E ratio of 38.32, a PEG ratio of 3.10 and a beta of 1.08. The company has a 50-day moving average price of $105.07 and a 200-day moving average price of $101.92.

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

Arista Networks 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.