5 AI Stocks That Will Skyrocket

2. Arista Networks, Inc. (NYSE:ANET)

Number of Q4 2023 Hedge Fund Shareholders: 64

Date of Newsletter: February 27, 2024

Arista Networks, Inc. (NYSE:ANET) is a computer hardware company headquartered in Santa Clara, California. It sells cloud networking platforms that also include AI switching platforms. The shares are rated Buy on average, and the average analyst share price target is $297.

By the end of last year’s fourth quarter, 64 out of the 933 hedge funds covered by Insider Monkey’s research had bought and owned the firm’s shares. Arista Networks, Inc. (NYSE:ANET)’s largest stakeholder among these is Steve Cohen’s Point72 Asset Management as it owns $196 million worth of shares.

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