Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Altman Advisors Inc.

Altman Advisors Inc. increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 292.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,010 shares of the technology company's stock after purchasing an additional 17,148 shares during the quarter. Arista Networks comprises about 1.0% of Altman Advisors Inc.'s holdings, making the stock its 27th largest position. Altman Advisors Inc.'s holdings in Arista Networks were worth $2,543,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Anchor Investment Management LLC raised its stake in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after purchasing an additional 35 shares in the last quarter. Caitlin John LLC increased its holdings in shares of Arista Networks by 174.7% in the 4th 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 position in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares in the last quarter. New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Finally, Cranbrook Wealth Management LLC grew its position in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages recently weighed in on ANET. Needham & Company LLC reissued a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Barclays reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Citigroup lowered their price target on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.43.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business'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 transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 411,031 shares of company stock valued at $39,364,943. Company insiders own 3.54% of the company's stock.

Arista Networks Price Performance

Shares of NYSE:ANET traded up $0.83 during trading hours on Monday, hitting $73.50. 10,646,202 shares of the company's stock traded hands, compared to its average volume of 9,155,856. The business has a fifty day moving average price of $87.90 and a 200-day moving average price of $99.99. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The firm has a market capitalization of $92.69 billion, a P/E ratio of 33.11, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share 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.