Beacon Pointe Advisors LLC Has $575,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Beacon Pointe Advisors LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 283.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,200 shares of the technology company's stock after buying an additional 3,844 shares during the period. Beacon Pointe Advisors LLC's holdings in Arista Networks were worth $575,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Caitlin John LLC lifted its stake in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont grew its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing 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 valued at $29,000 after buying an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ANET shares. Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Evercore ISI lowered their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. 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. Rosenblatt Securities raised shares of Arista Networks from a "sell" rating to a "neutral" rating and lifted their target price for the company from $55.00 to $85.00 in a research note on Tuesday, April 29th. Finally, Piper Sandler dropped their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.36.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This 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 through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. This represents a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock worth $39,446,799 over the last ninety days. Company insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $91.08 on Friday. The firm has a market cap of $114.36 billion, a PE ratio of 41.03, a PEG ratio of 3.10 and a beta of 1.38. The firm has a fifty day moving average of $79.15 and a 200 day moving average of $97.72. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during 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%. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.

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