Schonfeld Strategic Advisors LLC Purchases 232,053 Shares of Arista Networks, Inc. (NYSE:ANET)

Schonfeld Strategic Advisors LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 1,256.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 250,526 shares of the technology company's stock after purchasing an additional 232,053 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Arista Networks were worth $27,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Caitlin John LLC increased its holdings in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% in the 4th 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 lifted its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% during 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 during the period. Finally, New Millennium Group LLC increased its position in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ANET shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities upgraded shares of Arista Networks from a "sell" rating to a "neutral" rating and set a $85.00 price objective for the company in a research note on Tuesday. Finally, Evercore ISI dropped their target price on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.43.

Arista Networks Price Performance

ANET opened at $78.33 on Tuesday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The stock has a 50-day moving average price of $80.06 and a 200-day moving average price of $98.13. The firm has a market cap of $98.35 billion, a PE ratio of 35.28, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares in the company, valued at $512,305.20. This trade represents a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,355 shares of company stock worth $39,446,799. Company insiders own 3.54% of the company's stock.

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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