BlackRock Increases Position in Arista Networks (ANET)
Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 18.36MM shares of Arista Networks Inc (ANET). This represents 6.0% of the company.
In their previous filing dated February 7, 2022 they reported 17.33MM shares and 5.60% of the company, an increase in shares of 5.95% and an increase in total ownership of 0.40% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 29.04% Upside
As of February 1, 2023, the average one-year price target for Arista Networks is $162.62. The forecasts range from a low of $119.38 to a high of $222.60. The average price target represents an increase of 29.04% from its latest reported closing price of $126.02.
The projected annual revenue for Arista Networks is $5,457MM, an increase of 38.85%. The projected annual EPS is $5.53, an increase of 45.71%.
Fund Sentiment
There are 1597 funds or institutions reporting positions in Arista Networks. This is an increase of 18 owner(s) or 1.14%.
Average portfolio weight of all funds dedicated to US:ANET is 0.3814%, an increase of 14.2626%. Total shares owned by institutions increased in the last three months by 0.69% to 234,964K shares.
What are large shareholders doing?
Alliancebernstein holds 10,585,948 shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 10,553,081 shares, representing an increase of 0.31%. The firm increased its portfolio allocation in ANET by 28.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,807,533 shares representing 2.23% ownership of the company. In it's prior filing, the firm reported owning 6,813,026 shares, representing a decrease of 0.08%. The firm increased its portfolio allocation in ANET by 25.43% over the last quarter.
Capital World Investors holds 6,142,331 shares representing 2.01% ownership of the company. In it's prior filing, the firm reported owning 7,598,018 shares, representing a decrease of 23.70%. The firm increased its portfolio allocation in ANET by 2.89% over the last quarter.
Wellington Management Group Llp holds 6,013,189 shares representing 1.97% ownership of the company. In it's prior filing, the firm reported owning 6,369,463 shares, representing a decrease of 5.92%. The firm increased its portfolio allocation in ANET by 20.25% over the last quarter.
Artisan Partners Limited Partnership holds 5,826,032 shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 5,724,904 shares, representing an increase of 1.74%. The firm increased its portfolio allocation in ANET by 27.52% over the last quarter.
Arista Networks Background Information
(This description is provided by the company.)
Arista Networks is an industry leader in software-driven cloud networking solutions for large data center and campus environments. Arista's award-winning platforms deliver availability, agility, automation analytics and security through CloudVision® and Arista EOS®, an advanced network operating system.
This story originally appeared on Fintel.