Arista Networks, Inc. (NYSE:ANET) Shares Bought by Boothbay Fund Management LLC

Boothbay Fund Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 294.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,941 shares of the technology company's stock after acquiring an additional 74,580 shares during the period. Boothbay Fund Management LLC's holdings in Arista Networks were worth $11,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks in the fourth quarter valued at $242,000. GHE LLC lifted its position in Arista Networks by 319.0% in the fourth 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 boosted its stake in Arista Networks by 327.6% in the fourth 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 in the last quarter. Unified Investment Management acquired a new stake in shares of Arista Networks during the 4th quarter worth approximately $630,000. Finally, Berkshire Capital Holdings Inc. raised its position in shares of Arista Networks by 257.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after purchasing an additional 55,430 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm'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 sale, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. This trade represents a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $39,446,799 in the last ninety days. Corporate insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ANET shares. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Citigroup reduced their price objective on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler decreased their target price on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $106.43.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $2.43 on Tuesday, reaching $80.74. 11,418,951 shares of the company traded hands, compared to its average volume of 9,101,185. The company has a 50 day moving average of $80.06 and a 200 day moving average of $98.13. The firm has a market capitalization of $101.38 billion, a PE ratio of 36.37, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks Company 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.