Interchange Capital Partners LLC Buys 6,914 Shares of Arista Networks, Inc. (NYSE:ANET)

Interchange Capital Partners LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 289.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,301 shares of the technology company’s stock after purchasing an additional 6,914 shares during the period. Interchange Capital Partners LLC’s holdings in Arista Networks were worth $1,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of 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 during the period. Swedbank AB raised its holdings in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after acquiring an additional 4,919,882 shares during the period. Bank of New York Mellon Corp lifted 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 purchasing an additional 4,579,622 shares during the last quarter. Finally, WCM Investment Management LLC lifted its stake in shares of Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

Arista Networks stock opened at $83.26 on Monday. The company has a market capitalization of $104.99 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The company’s fifty day moving average price is $102.53 and its two-hundred day moving average price is $101.89.

Arista Networks (NYSE:ANET) last released its earnings results 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 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. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on ANET. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup increased their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, 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. Over the last three months, insiders sold 491,001 shares of company stock valued at $49,112,111. 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.