Arrow Capital Pty Ltd Purchases Shares of 27,500 Arista Networks, Inc. (NYSE:ANET)

Arrow Capital Pty Ltd purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 27,500 shares of the technology company's stock, valued at approximately $3,040,000. Arista Networks makes up 2.8% of Arrow Capital Pty Ltd's portfolio, making the stock its 14th largest position.

A number of other hedge funds have also added to or reduced their stakes in ANET. Vanguard Group Inc. lifted its stake in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after purchasing an additional 72,311,318 shares during the last quarter. FMR LLC lifted its stake in shares of Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after acquiring an additional 44,269,572 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares in the last quarter. Alliancebernstein L.P. grew its position in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the last quarter. Finally, Norges Bank bought a new position in Arista Networks in the fourth quarter valued at about $1,397,833,000. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the sale, the director now owns 139,784 shares of the company's stock, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock worth $39,364,943 in the last quarter. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ANET shares. JPMorgan Chase & Co. dropped their price objective on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday. Piper Sandler reduced their price objective on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley lowered their price target on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $106.07.

Arista Networks Trading Down 5.6 %

Shares of NYSE ANET traded down $3.96 during mid-day trading on Monday, hitting $67.24. The company had a trading volume of 4,174,135 shares, compared to its average volume of 11,218,244. The company has a market capitalization of $84.80 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.57. The stock's 50-day moving average price is $84.23 and its 200-day moving average price is $99.30.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results 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 net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.