Thrivent Financial for Lutherans Acquires 306,746 Shares of Arista Networks, Inc. (NYSE:ANET)

Thrivent Financial for Lutherans boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 357.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 392,497 shares of the technology company’s stock after buying an additional 306,746 shares during the period. Thrivent Financial for Lutherans’ holdings in Arista Networks were worth $43,383,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ANET. Altman Advisors Inc. raised its stake in Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after buying an additional 36 shares during the period. LRI Investments LLC grew its position in Arista Networks by 3.1% during the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock worth $528,000 after buying an additional 41 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in Arista Networks by 3.8% during the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock valued at $453,000 after acquiring an additional 43 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

ANET has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Trading Up 0.5 %

NYSE ANET opened at $84.38 on Thursday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The company has a 50 day moving average of $103.81 and a 200-day moving average of $101.77. The firm has a market cap of $106.42 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 3.10 and a beta of 1.08.

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