CenterBook Partners LP Purchases 79,312 Shares of Arista Networks, Inc. (NYSE:ANET)

CenterBook Partners LP lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 1,321.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,315 shares of the technology company's stock after purchasing an additional 79,312 shares during the quarter. CenterBook Partners LP's holdings in Arista Networks were worth $9,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Caitlin John LLC boosted its holdings 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 purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings 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 in the last quarter. Cranbrook Wealth Management LLC increased its stake in 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 in the last quarter. Trust Co. of Vermont increased its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC raised its position 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 purchasing an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ANET. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $108.50.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated 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. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks 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 directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock worth $39,364,943 in the last quarter. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Arista Networks stock traded down $0.15 on Friday, reaching $72.50. The company's stock had a trading volume of 11,224,936 shares, compared to its average volume of 9,149,886. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The company has a market cap of $91.43 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 3.10 and a beta of 1.30. The business's fifty day moving average price is $88.74 and its 200 day moving average price is $100.14.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results 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 company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts forecast 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.