Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. boosted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,764 shares of the technology company's stock after acquiring an additional 185,073 shares during the quarter. Arista Networks accounts for about 1.0% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 21st biggest holding. Adams Diversified Equity Fund Inc.'s holdings in Arista Networks were worth $27,275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Caitlin John LLC lifted its position 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 acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Arista Networks by 335.1% in the 4th 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 during the period. Cranbrook Wealth Management LLC boosted its position in shares of Arista Networks by 300.0% in the 4th 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 during the period. Trust Co. of Vermont increased its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC lifted 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 buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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Arista Networks Stock Up 5.3 %

Shares of NYSE:ANET traded up $4.45 during trading on Monday, reaching $87.58. The stock had a trading volume of 10,398,418 shares, compared to its average volume of 8,579,403. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The stock has a market cap of $110.44 billion, a P/E ratio of 39.45, a PEG ratio of 3.10 and a beta of 1.08. The business has a fifty day moving average price of $102.03 and a 200-day moving average price of $101.92.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations 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 forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent research reports. Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Barclays restated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Citigroup upped their price target on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Piper Sandler restated a "neutral" rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

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.