Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Whalerock Point Partners LLC

Whalerock Point Partners LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,496 shares of the technology company’s stock after purchasing an additional 7,122 shares during the quarter. Whalerock Point Partners LLC’s holdings in Arista Networks were worth $1,050,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of ANET. Berger Financial Group Inc grew its holdings in shares of Arista Networks by 305.0% in the fourth quarter. Berger Financial Group Inc now owns 3,467 shares of the technology company’s stock valued at $383,000 after purchasing an additional 2,611 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of Arista Networks by 304.5% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 7,208 shares of the technology company’s stock valued at $797,000 after purchasing an additional 5,426 shares during the last quarter. Prosperity Consulting Group LLC grew its position in shares of Arista Networks by 383.0% during the fourth quarter. Prosperity Consulting Group LLC now owns 9,651 shares of the technology company’s stock worth $1,067,000 after acquiring an additional 7,653 shares during the last quarter. Johnson Financial Group Inc. increased its stake in Arista Networks by 246.7% in the fourth quarter. Johnson Financial Group Inc. now owns 2,288 shares of the technology company’s stock valued at $264,000 after purchasing an additional 1,628 shares during the period. Finally, Boothbay Fund Management LLC raised its stake in Arista Networks by 294.1% during the 4th quarter. Boothbay Fund Management LLC now owns 99,941 shares of the technology company’s stock valued at $11,046,000 after acquiring an additional 74,580 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ANET shares. Morgan Stanley lowered their price objective on Arista Networks from $118.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Piper Sandler decreased their target price on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI lowered their price target on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities reduced their price objective on shares of Arista Networks from $85.00 to $55.00 and set a “sell” rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.29.

Arista Networks Price Performance

Shares of NYSE ANET opened at $77.96 on Friday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The business’s 50-day moving average price is $80.57 and its two-hundred day moving average price is $98.34. The company has a market capitalization of $97.89 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders sold 412,355 shares of company stock valued at $39,446,799 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Company Profile

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.