Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 279.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 601,580 shares of the technology company's stock after buying an additional 442,898 shares during the quarter. Pinebridge Investments L.P.'s holdings in Arista Networks were worth $66,493,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ANET. Morse Asset Management Inc purchased a new position in Arista Networks in the third quarter worth $123,000. Virtu Financial LLC purchased a new stake in shares of Arista Networks during the third quarter valued at $1,752,000. World Investment Advisors LLC purchased a new stake in shares of Arista Networks during the third quarter valued at $401,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Arista Networks during the third quarter valued at $2,222,000. Finally, Tidal Investments LLC lifted its position in Arista Networks by 5.6% during the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company's stock valued at $14,348,000 after purchasing an additional 1,998 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,355 shares of company stock worth $39,446,799. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Barclays restated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Evercore ISI lowered their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Morgan Stanley lowered their price target on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.29.

Arista Networks Stock Up 3.5 %

NYSE:ANET traded up $2.67 on Friday, reaching $77.96. The company's stock had a trading volume of 12,456,039 shares, compared to its average volume of 9,098,187. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The firm has a market cap of $97.89 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock has a 50 day moving average price of $80.57 and a 200 day moving average price of $98.31.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.