Guggenheim Capital LLC Buys 110,056 Shares of Arista Networks, Inc. (NYSE:ANET)

Guggenheim Capital LLC raised its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 250.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 154,085 shares of the technology company's stock after acquiring an additional 110,056 shares during the period. Guggenheim Capital LLC's holdings in Arista Networks were worth $17,031,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Chiron Investment Management LLC increased its position in shares of Arista Networks by 404.7% in the fourth quarter. Chiron Investment Management LLC now owns 50,032 shares of the technology company's stock valued at $5,530,000 after acquiring an additional 40,118 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $43,161,000. LaSalle St. Investment Advisors LLC bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $331,000. XTX Topco Ltd acquired a new stake in shares of Arista Networks in the 4th quarter valued at approximately $740,000. Finally, Strategies Wealth Advisors LLC bought a new position in shares of Arista Networks in the fourth quarter valued at $309,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction 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. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now owns 139,784 shares of the company's stock, valued at approximately $10,840,249.20. This represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock valued at $39,364,943 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 1.1 %

NYSE ANET traded down $0.77 during trading on Friday, reaching $71.11. The company's stock had a trading volume of 8,564,418 shares, compared to its average volume of 9,111,934. The firm has a 50 day moving average price of $84.23 and a 200 day moving average price of $99.30. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The firm has a market capitalization of $89.67 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS 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 analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ANET shares. Citigroup dropped their price target 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. Evercore ISI dropped their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday. Piper Sandler dropped their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.07.

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.