Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Analog Century Management LP

Analog Century Management LP raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 349.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 602,304 shares of the technology company's stock after acquiring an additional 468,153 shares during the period. Arista Networks makes up 4.5% of Analog Century Management LP's holdings, making the stock its 10th largest position. Analog Century Management LP's holdings in Arista Networks were worth $66,573,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ANET. Morse Asset Management Inc bought a new stake in Arista Networks in the third quarter valued at approximately $123,000. Virtu Financial LLC bought a new stake in shares of Arista Networks in the 3rd quarter valued at $1,752,000. World Investment Advisors LLC acquired a new stake in Arista Networks during the 3rd quarter worth $401,000. Wilmington Savings Fund Society FSB bought a new position in Arista Networks during the third quarter worth about $2,222,000. Finally, Tidal Investments LLC increased its holdings in shares of Arista Networks by 5.6% in the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company's stock worth $14,348,000 after acquiring an additional 1,998 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Analysts Set New Price Targets

ANET has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Piper Sandler lowered 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. Barclays restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.29.

Arista Networks Stock Performance

NYSE ANET opened at $70.81 on Thursday. The stock has a market cap of $88.91 billion, a PE ratio of 31.90, a P/E/G ratio of 3.10 and a beta of 1.30. The firm has a 50-day moving average of $81.85 and a 200-day moving average of $98.68. 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 issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The company 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, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

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 transaction of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 410,863 shares of company stock valued at $39,344,612. 3.54% of the stock is owned by company insiders.

Arista Networks 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.

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