Kintegral Advisory LLC Buys 9,199 Shares of Arista Networks, Inc. (NYSE:ANET)

Kintegral Advisory LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 282.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,459 shares of the technology company’s stock after acquiring an additional 9,199 shares during the period. Kintegral Advisory LLC’s holdings in Arista Networks were worth $1,377,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ANET. Swedbank AB raised its stake in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC increased its holdings in 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 buying an additional 4,512,166 shares during the period. DSM Capital Partners LLC raised its position in shares of Arista Networks by 259.7% in the 4th quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company’s stock valued at $573,527,000 after buying an additional 3,746,407 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after acquiring an additional 3,496,497 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Arista Networks by 306.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after acquiring an additional 1,835,421 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock valued at $30,225,623 over the last ninety days. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

ANET stock opened at $98.31 on Friday. The company has a market capitalization of $123.97 billion, a P/E ratio of 44.28, a PEG ratio of 3.27 and a beta of 1.09. The company has a fifty day moving average price of $113.66 and a 200-day moving average price of $101.85. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET) last announced 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on ANET shares. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research report on Wednesday. Evercore ISI upped their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays boosted their target price on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group raised their price target on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

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.