Epoch Investment Partners Inc. Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Epoch Investment Partners Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANETFree Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 707,459 shares of the technology company’s stock after buying an additional 55,889 shares during the quarter. Arista Networks accounts for 0.8% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 24th largest position. Epoch Investment Partners Inc. owned approximately 0.23% of Arista Networks worth $166,614,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pinnbrook Capital Management LP acquired a new stake in Arista Networks during the 4th quarter worth approximately $5,928,000. Vinva Investment Management Ltd lifted its holdings in Arista Networks by 1.1% during the 4th quarter. Vinva Investment Management Ltd now owns 9,149 shares of the technology company’s stock worth $2,168,000 after buying an additional 96 shares in the last quarter. Morningstar Investment Services LLC acquired a new stake in Arista Networks during the 4th quarter worth approximately $245,000. Envestnet Asset Management Inc. lifted its holdings in Arista Networks by 0.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 829,314 shares of the technology company’s stock worth $195,312,000 after buying an additional 3,154 shares in the last quarter. Finally, Exencial Wealth Advisors LLC lifted its holdings in Arista Networks by 24.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 1,565 shares of the technology company’s stock worth $369,000 after buying an additional 308 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANET has been the topic of a number of analyst reports. Piper Sandler raised their price objective on shares of Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Rosenblatt Securities restated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a report on Wednesday, May 8th. Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and raised their price objective for the company from $240.00 to $320.00 in a report on Friday, May 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $295.22.

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Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $4,929,639.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $269.15, for a total value of $5,383,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $873,122.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 407,368 shares of company stock valued at $119,728,043. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock traded up $0.22 during midday trading on Friday, hitting $296.79. 1,458,416 shares of the company’s stock were exchanged, compared to its average volume of 2,505,674. Arista Networks, Inc. has a 12-month low of $148.32 and a 12-month high of $329.04. The stock has a market cap of $93.00 billion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.08. The firm’s 50 day simple moving average is $288.16 and its 200 day simple moving average is $266.64.

Arista Networks (NYSE:ANETGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks announced that its board has approved a share repurchase program on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Arista Networks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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