Aptus Capital Advisors LLC Has $1.20 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Aptus Capital Advisors LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 344.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,871 shares of the technology company's stock after purchasing an additional 8,425 shares during the quarter. Aptus Capital Advisors LLC's holdings in Arista Networks were worth $1,202,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AXA S.A. boosted its stake in shares of Arista Networks by 470.4% during the 4th quarter. AXA S.A. now owns 673,853 shares of the technology company's stock valued at $74,481,000 after buying an additional 555,707 shares during the period. AlTi Global Inc. boosted its position in Arista Networks by 192.6% during the fourth quarter. AlTi Global Inc. now owns 13,080 shares of the technology company's stock valued at $1,568,000 after purchasing an additional 8,609 shares during the last quarter. Alaethes Wealth LLC grew its stake in Arista Networks by 292.3% in the fourth quarter. Alaethes Wealth LLC now owns 45,857 shares of the technology company's stock valued at $5,069,000 after purchasing an additional 34,169 shares in the last quarter. All Terrain Financial Advisors LLC increased its position in Arista Networks by 292.6% in the 4th quarter. All Terrain Financial Advisors LLC now owns 3,200 shares of the technology company's stock worth $354,000 after purchasing an additional 2,385 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of Arista Networks during the 4th quarter worth about $1,852,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on 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 sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares of the company's stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock worth $39,259,279 over the last quarter. Company insiders own 3.54% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ANET shares. Piper Sandler lowered their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley increased their price target on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Citigroup lowered their target price on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $108.36.

Arista Networks Trading Down 0.7 %

Shares of ANET stock opened at $90.41 on Tuesday. The company has a market capitalization of $113.52 billion, a P/E ratio of 40.73, a P/E/G ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The stock has a 50 day moving average of $79.03 and a two-hundred day moving average of $97.62.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.

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