Mackenzie Financial Corp Has $6.81 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Mackenzie Financial Corp lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 4.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,923 shares of the technology company’s stock after buying an additional 1,331 shares during the quarter. Mackenzie Financial Corp’s holdings in Arista Networks were worth $6,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ANET. Cibc World Market Inc. lifted its holdings in shares of Arista Networks by 135.9% during the first quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock worth $4,729,000 after buying an additional 19,602 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Arista Networks by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock worth $175,274,000 after purchasing an additional 19,738 shares during the period. Prudential PLC bought a new position in shares of Arista Networks in the first quarter worth $676,000. Sequoia Financial Advisors LLC bought a new position in shares of Arista Networks in the first quarter worth $224,000. Finally, Vanguard Group Inc. increased its position in shares of Arista Networks by 1.4% in the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock worth $3,511,828,000 after purchasing an additional 353,253 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $922,301.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $922,301.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 4,042 shares of Arista Networks stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $299.99, for a total value of $1,212,559.58. Following the completion of the transaction, the chief executive officer now directly owns 1,628,532 shares in the company, valued at $488,543,314.68. The disclosure for this sale can be found here. Insiders have sold a total of 342,229 shares of company stock valued at $97,968,530 over the last ninety days. 18.99% of the stock is owned by company insiders.

Arista Networks Trading Down 4.3 %

NYSE:ANET opened at $246.09 on Friday. The stock has a market cap of $76.94 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 2.20 and a beta of 1.09. The stock’s 50-day moving average is $280.29 and its 200-day moving average is $244.97. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 earnings per share. As a group, equities analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ANET shares. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Rosenblatt Securities restated a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Piper Sandler raised their price target on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

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.