Arista Networks, Inc. (NYSE:ANET) Stake Boosted by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC boosted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 322.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,716 shares of the technology company's stock after buying an additional 8,942 shares during the period. Arista Networks makes up about 0.5% of Virtus ETF Advisers LLC's holdings, making the stock its 29th biggest position. Virtus ETF Advisers LLC's holdings in Arista Networks were worth $1,295,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitlin John LLC lifted its holdings in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after purchasing an additional 191 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares in the last quarter. Trust Co. of Vermont grew its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC increased its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 195 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the firm's 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 completion of the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $39,446,799 in the last three months. Corporate insiders own 3.54% of the company's stock.

Arista Networks Stock Down 0.3 %

Shares of ANET traded down $0.28 during mid-day trading on Wednesday, hitting $80.45. The company had a trading volume of 4,407,700 shares, compared to its average volume of 9,097,644. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The business's 50-day simple moving average is $79.60 and its 200-day simple moving average is $98.01. The stock has a market cap of $101.02 billion, a PE ratio of 36.24, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last released 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ANET. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities upgraded shares of Arista Networks from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $55.00 to $85.00 in a research report on Tuesday. Piper Sandler dropped their target price on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.43.

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.