Great Lakes Advisors LLC Has $1.39 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Great Lakes Advisors LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 1,698.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,610 shares of the technology company’s stock after purchasing an additional 11,909 shares during the period. Great Lakes Advisors LLC’s holdings in Arista Networks were worth $1,394,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks during the fourth quarter worth $242,000. GHE LLC grew its stake in shares of Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC lifted its holdings in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new stake in Arista Networks during the 4th quarter worth about $630,000. Finally, Silver Oak Securities Incorporated lifted its holdings in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after purchasing an additional 14,843 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler restated a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Price Performance

ANET stock opened at $83.58 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The business has a fifty day moving average price of $105.75 and a 200-day moving average price of $101.82. The stock has a market capitalization of $105.41 billion, a P/E ratio of 37.65, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 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 company had revenue of $1.93 billion during the quarter, compared to analyst estimates 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 Buying and Selling

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks 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.