Arista Networks, Inc. (NYSE:ANET) Holdings Lifted by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 299.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,743 shares of the technology company's stock after buying an additional 13,305 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Arista Networks were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ANET. Caitlin John LLC grew its stake 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 purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in 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 in the last quarter. Cranbrook Wealth Management LLC grew 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 in the last quarter. Trust Co. of Vermont grew its stake in Arista Networks by 300.0% in 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 in the last quarter. Finally, New Millennium Group LLC grew its stake 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 purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on ANET shares. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Piper Sandler reaffirmed a "neutral" rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. StockNews.com cut Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Remove Ads

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 in the last quarter. Corporate insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

NYSE ANET opened at $80.11 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The stock has a market capitalization of $101.02 billion, a PE ratio of 36.08, a P/E/G ratio of 3.10 and a beta of 1.08. The stock has a 50-day simple moving average of $106.38 and a 200 day simple moving average of $101.73.

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 the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.