Twin Capital Management Inc. Has $8.25 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Twin Capital Management Inc. increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 308.7% during the fourth quarter, HoldingsChannel reports. The fund owned 74,617 shares of the technology company’s stock after acquiring an additional 56,359 shares during the quarter. Arista Networks makes up about 0.9% of Twin Capital Management Inc.’s portfolio, making the stock its 15th biggest holding. Twin Capital Management Inc.’s holdings in Arista Networks were worth $8,247,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Legal & General Group Plc lifted its stake in shares of Arista Networks by 227.7% in the fourth quarter. Legal & General Group Plc now owns 7,814,613 shares of the technology company’s stock valued at $863,749,000 after buying an additional 5,429,857 shares during the period. Invesco Ltd. grew its holdings in shares of Arista Networks by 271.2% during the 4th quarter. Invesco Ltd. now owns 11,190,118 shares of the technology company’s stock worth $1,236,844,000 after purchasing an additional 8,175,884 shares in the last quarter. Bank of Montreal Can lifted its position in Arista Networks by 275.3% in the fourth quarter. Bank of Montreal Can now owns 1,490,700 shares of the technology company’s stock worth $164,767,000 after purchasing an additional 1,093,472 shares during the period. Bell Asset Management Ltd increased its holdings in Arista Networks by 177.9% in the 4th quarter. Bell Asset Management Ltd now owns 44,592 shares of the technology company’s stock valued at $4,929,000 after buying an additional 28,546 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. lifted its holdings in shares of Arista Networks by 289.9% during the 4th quarter. Sumitomo Mitsui Financial Group Inc. now owns 396,831 shares of the technology company’s stock worth $43,862,000 after acquiring an additional 295,047 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were 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 $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,001 shares of company stock valued at $39,362,831. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of several analyst reports. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler reaffirmed 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. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Down 9.8 %

NYSE:ANET opened at $64.28 on Monday. Arista Networks, Inc. has a 12-month low of $57.80 and a 12-month high of $133.58. The stock’s fifty day simple moving average is $94.01 and its 200-day simple moving average is $101.37. The firm has a market capitalization of $81.07 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30.

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

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.