Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Evercore Wealth Management LLC

Evercore Wealth Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,307 shares of the technology company's stock after purchasing an additional 5,481 shares during the period. Evercore Wealth Management LLC's holdings in Arista Networks were worth $808,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ANET. Adage Capital Partners GP L.L.C. raised its stake in Arista Networks by 302.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 915,800 shares of the technology company's stock valued at $101,223,000 after purchasing an additional 688,000 shares during the period. Syon Capital LLC raised its position in Arista Networks by 284.7% during the fourth quarter. Syon Capital LLC now owns 11,173 shares of the technology company's stock valued at $1,235,000 after buying an additional 8,269 shares during the period. CSM Advisors LLC purchased a new stake in Arista Networks in the 4th quarter worth about $271,000. Symmetry Investments LP boosted its position in Arista Networks by 2,348.2% during the 4th quarter. Symmetry Investments LP now owns 256,617 shares of the technology company's stock worth $28,364,000 after acquiring an additional 246,135 shares during the period. Finally, MGO One Seven LLC grew its stake in Arista Networks by 492.9% during the 4th quarter. MGO One Seven LLC now owns 34,236 shares of the technology company's stock valued at $3,784,000 after acquiring an additional 28,462 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

ANET opened at $70.81 on Thursday. The firm has a market cap of $88.91 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The business has a 50 day moving average price of $81.85 and a 200 day moving average price of $98.68. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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 net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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 transaction of $4,593,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the sale, the director now owns 139,784 shares in the company, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 410,863 shares of company stock worth $39,344,612 over the last ninety days. Company insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ANET. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and raised their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Morgan Stanley lowered their price target on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Evercore ISI cut their price objective on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Citigroup lowered their target price on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler cut their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $104.29.

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.

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