Aubrey Capital Management Ltd Buys 38,000 Shares of Arista Networks, Inc. (NYSE:ANET)

Aubrey Capital Management Ltd raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 279.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,600 shares of the technology company’s stock after purchasing an additional 38,000 shares during the quarter. Arista Networks comprises 2.2% of Aubrey Capital Management Ltd’s holdings, making the stock its 8th biggest position. Aubrey Capital Management Ltd’s holdings in Arista Networks were worth $5,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its holdings in Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Swedbank AB lifted its holdings in Arista Networks by 293.2% during 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 lifted its holdings in Arista Networks by 292.8% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after purchasing an additional 236,151 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ANET. Barclays decreased their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company increased their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Rosenblatt Securities increased their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $118.52 on Monday. The stock has a market capitalization of $149.31 billion, a P/E ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09. The company’s fifty day moving average is $113.21 and its two-hundred day moving average is $99.91. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current year.

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.