Allianz SE Buys New Position in Arista Networks, Inc. (NYSE:ANET)

Allianz SE purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 46,276 shares of the technology company’s stock, valued at approximately $5,157,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. Stock Yards Bank & Trust Co. acquired a new stake in Arista Networks in the 4th quarter valued at $242,000. GHE LLC grew its holdings in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after buying an additional 21,597 shares during the last quarter. Colonial River Investments LLC increased its position in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new stake in shares of Arista Networks in the 4th quarter worth about $630,000. Finally, Berkshire Capital Holdings Inc. lifted its position in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after acquiring an additional 55,430 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ANET. Barclays reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $77.91 on Friday. The firm has a fifty day moving average of $99.16 and a 200 day moving average of $101.80. 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 $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by company insiders.

Arista Networks Company 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.