Natixis Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Posted by Defense World Staff on Jun 10th, 2023

Natixis boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET – Get Rating) by 61.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,796 shares of the technology company’s stock after purchasing an additional 14,436 shares during the quarter. Natixis’ holdings in Arista Networks were worth $4,581,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Trifecta Capital Advisors LLC acquired a new position in shares of Arista Networks in the 4th quarter worth approximately $27,000. TCI Wealth Advisors Inc. increased its stake in Arista Networks by 126.7% during the fourth quarter. TCI Wealth Advisors Inc. now owns 297 shares of the technology company’s stock valued at $36,000 after purchasing an additional 166 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth $57,000. Covestor Ltd lifted its position in shares of Arista Networks by 44.2% in the 1st quarter. Covestor Ltd now owns 496 shares of the technology company’s stock worth $69,000 after buying an additional 152 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Arista Networks in the 4th quarter valued at about $61,000. 64.30% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Up 0.1 %

Shares of NYSE ANET opened at $162.51 on Friday. Arista Networks, Inc. has a 12 month low of $89.11 and a 12 month high of $178.36. The company has a market cap of $50.10 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 1.98 and a beta of 1.27. The business has a fifty day simple moving average of $153.93 and a 200-day simple moving average of $141.12.

Arista Networks (NYSE:ANET – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The technology company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. Arista Networks had a net margin of 31.24% and a return on equity of 31.33%. The business’s quarterly revenue was up 54.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, sell-side analysts expect that Arista Networks, Inc. will post 5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 3,500 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $151.64, for a total value of $530,740.00. Following the completion of the sale, the senior vice president now owns 237,100 shares in the company, valued at $35,953,844. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jayshree Ullal sold 13,500 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $165.65, for a total transaction of $2,236,275.00. Following the transaction, the chief executive officer now directly owns 1,760,200 shares of the company’s stock, valued at $291,577,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $151.64, for a total transaction of $530,740.00. Following the completion of the sale, the senior vice president now owns 237,100 shares of the company’s stock, valued at approximately $35,953,844. The disclosure for this sale can be found here. In the last three months, insiders have sold 214,011 shares of company stock worth $34,090,054. Corporate insiders own 18.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $175.00 target price on shares of Arista Networks in a report on Wednesday, April 5th. Argus raised their target price on Arista Networks from $175.00 to $195.00 in a research note on Tuesday, May 2nd. Wells Fargo & Company upped their price target on shares of Arista Networks from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 22nd. Credit Suisse Group lifted their price objective on shares of Arista Networks from $146.00 to $151.00 in a research report on Tuesday, May 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Arista Networks from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, April 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.85.

Arista Networks Profile

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.