Analog Century Management LP Buys 468,153 Shares of Arista Networks, Inc. (NYSE:ANET)

Analog Century Management LP raised its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 349.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 602,304 shares of the technology company's stock after acquiring an additional 468,153 shares during the quarter. Arista Networks makes up 4.5% of Analog Century Management LP's portfolio, making the stock its 10th largest holding. Analog Century Management LP's holdings in Arista Networks were worth $66,573,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caitlin John LLC raised its position in 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 purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC raised its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont lifted its position in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ANET shares. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Needham & Company LLC restated a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup decreased their price objective on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler dropped their target price 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, Barclays reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $104.29.

Arista Networks Stock Down 0.0 %

Shares of ANET traded down $0.03 during trading hours on Monday, reaching $77.88. The stock had a trading volume of 3,273,419 shares, compared to its average volume of 9,076,112. The company has a market cap of $97.79 billion, a P/E ratio of 35.03, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The firm has a 50-day moving average of $80.57 and a 200 day moving average of $98.31.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company's stock, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,355 shares of company stock valued at $39,446,799 over the last quarter. 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.