Blueprint Investment Partners LLC Acquires Shares of 2,288 Arista Networks, Inc. (NYSE:ANET)

Blueprint Investment Partners LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,288 shares of the technology company’s stock, valued at approximately $253,000.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after purchasing an additional 411,109 shares in the last quarter. Swedbank AB grew 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 buying an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $713,721,000 after purchasing an additional 4,919,882 shares during the period. Amundi boosted its holdings in Arista Networks by 196.3% in the 4th quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after purchasing an additional 4,201,973 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Arista Networks by 294.1% in the 4th 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 buying an additional 4,579,622 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANET. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Price Performance

ANET stock opened at $83.26 on Monday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company has a market cap of $104.99 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The company has a fifty day moving average price of $102.53 and a 200 day moving average price of $101.89.

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

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. Company insiders own 3.54% of the company’s stock.

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.