Aigen Investment Management LP Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

Aigen Investment Management LP grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 1,214.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,604 shares of the technology company's stock after purchasing an additional 19,960 shares during the period. Aigen Investment Management LP's holdings in Arista Networks were worth $2,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks in the 4th quarter valued at $242,000. GHE LLC increased its holdings in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock worth $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC increased its holdings in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after purchasing an additional 7,466 shares during the period. Unified Investment Management purchased a new stake in Arista Networks during the 4th quarter worth about $630,000. Finally, Silver Oak Securities Incorporated increased its holdings in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock worth $2,072,000 after purchasing an additional 14,843 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and upped their price target for the stock from $112.00 to $115.00 in a report on Wednesday. The Goldman Sachs Group upped their price target on Arista Networks from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $114.00.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value 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 approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,289 shares of company stock valued at $51,018,617. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Arista Networks stock traded up $2.31 during mid-day trading on Wednesday, reaching $87.83. 10,263,882 shares of the company were exchanged, compared to its average volume of 10,978,523. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The firm's 50-day simple moving average is $110.13 and its two-hundred day simple moving average is $102.14. The firm has a market cap of $110.76 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

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 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 company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

About Arista Networks

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.