Rehmann Capital Advisory Group Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Rehmann Capital Advisory Group increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 244.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,056 shares of the technology company's stock after buying an additional 2,879 shares during the period. Rehmann Capital Advisory Group's holdings in Arista Networks were worth $448,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks during the fourth quarter worth $242,000. GHE LLC lifted its position in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company's stock valued at $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its stake in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after buying an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new stake in shares of Arista Networks during the 4th quarter valued at $630,000. Finally, Berkshire Capital Holdings Inc. lifted its holdings in shares of Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after acquiring an additional 55,430 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday. 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 note on Tuesday, April 8th. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and boosted their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Citigroup dropped their price objective on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Rosenblatt Securities raised Arista Networks from a "sell" rating to a "neutral" rating and boosted their target price for the company from $55.00 to $85.00 in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.36.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,355 shares of company stock valued at $39,259,279. Corporate insiders own 3.54% of the company's stock.

Arista Networks Price Performance

Shares of ANET stock traded down $0.61 during trading hours on Monday, reaching $90.41. 6,979,823 shares of the company traded hands, compared to its average volume of 9,167,735. The firm has a 50-day moving average price of $79.15 and a 200 day moving average price of $97.69. The company has a market cap 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.

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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates 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 EPS for the current 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.