3,892 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Clearstead Trust LLC

Clearstead Trust LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,892 shares of the technology company's stock, valued at approximately $917,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Arista Networks by 0.3% in the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company's stock valued at $5,131,433,000 after purchasing an additional 84,212 shares during the last quarter. FMR LLC boosted its position in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company's stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the period. WCM Investment Management LLC grew its holdings in Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company's stock worth $716,649,000 after acquiring an additional 16,081 shares during the last quarter. Northern Trust Corp increased its position in shares of Arista Networks by 5.0% in the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company's stock valued at $442,120,000 after acquiring an additional 114,978 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Arista Networks by 0.8% during the fourth quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company's stock valued at $425,683,000 after acquiring an additional 14,627 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Up 4.8 %

ANET traded up $12.54 during trading on Friday, hitting $274.40. 2,883,651 shares of the company's stock traded hands, compared to its average volume of 2,426,995. The stock has a market capitalization of $85.79 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.24 and a beta of 1.13. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The company's 50 day simple moving average is $279.07 and its two-hundred day simple moving average is $249.25.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. Arista Networks's revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current year.

Insider Activity

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the firm's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Marc Taxay sold 1,044 shares of the company's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Insiders have sold 335,974 shares of company stock valued at $96,252,685 in the last ninety days. 18.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on ANET shares. Wells Fargo & Company upped their price target on Arista Networks from $225.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Evercore ISI reaffirmed an "outperform" rating and issued a $300.00 price target on shares of Arista Networks in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. JMP Securities reaffirmed a "market outperform" rating and issued a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Piper Sandler boosted their price target on shares of Arista Networks from $254.00 to $268.00 and gave the company a "neutral" rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and a consensus target price of $285.53.

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.