PDT Partners LLC Acquires 11,898 Shares of Arista Networks, Inc. (NYSE:ANET)

PDT Partners LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 220.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,300 shares of the technology company's stock after acquiring an additional 11,898 shares during the period. PDT Partners LLC's holdings in Arista Networks were worth $1,912,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. acquired a new stake in Arista Networks in the fourth quarter worth approximately $242,000. GHE LLC lifted its holdings in shares of Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company's stock valued at $3,136,000 after buying an additional 21,597 shares during the period. Colonial River Investments LLC boosted its stake in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock valued at $1,077,000 after buying an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in Arista Networks during the fourth quarter worth about $630,000. Finally, Berkshire Capital Holdings Inc. raised its position in Arista Networks by 257.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ANET. Citigroup lowered their price objective on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and upped their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Piper Sandler reduced their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley boosted their target price on Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Evercore ISI decreased their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.36.

Insiders Place Their Bets

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the transaction, the director now directly owns 7,480 shares in the company, valued at approximately $512,305.20. This trade represents a 16.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $39,446,799 over the last three months. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $3.24 during trading on Friday, hitting $91.08. 11,074,320 shares of the stock traded hands, compared to its average volume of 9,184,448. The stock has a market cap of $114.36 billion, a P/E ratio of 41.03, a PEG ratio of 3.10 and a beta of 1.38. The company has a fifty day moving average price of $79.15 and a two-hundred day moving average price of $97.75. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate 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 research analysts expect 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.