Arista Networks, Inc. (NYSE:ANET) is Beck Bode LLC's 3rd Largest Position

Beck Bode LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 283.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,835 shares of the technology company's stock after purchasing an additional 121,093 shares during the quarter. Arista Networks comprises about 3.3% of Beck Bode LLC's portfolio, making the stock its 3rd biggest position. Beck Bode LLC's holdings in Arista Networks were worth $18,189,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Caitlin John LLC boosted its holdings in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. New Millennium Group LLC boosted its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Quarry LP grew its holdings in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 206 shares during the period. Finally, Cranbrook Wealth Management LLC grew its stake in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $39,446,799 in the last ninety days. Insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

ANET has been the subject of several recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. 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 report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.36.

Arista Networks Stock Performance

Arista Networks stock opened at $91.08 on Friday. The company has a market cap of $114.36 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The business has a fifty day moving average of $79.15 and a two-hundred day moving average of $97.72.

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

Arista Networks 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.

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