Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 304.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,208 shares of the technology company's stock after buying an additional 5,426 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Arista Networks were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ANET. Caitlin John LLC boosted its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the last quarter. New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares during the last quarter. Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the period. Finally, Trust Co. of Vermont grew its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value 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. This represents a 5.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the transaction, the director now owns 7,480 shares in the company, valued at approximately $512,305.20. This represents a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,355 shares of company stock valued at $39,446,799 over the last quarter. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on ANET. JPMorgan Chase & Co. lowered their price target on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Evercore ISI dropped their target price on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler reduced their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Citigroup dropped their price objective on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. One investment 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's stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

Arista Networks Stock Performance

Arista Networks stock opened at $77.96 on Friday. The company's fifty day moving average price is $80.57 and its 200 day moving average price is $98.34. The stock has a market capitalization of $97.89 billion, a P/E ratio of 35.12, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

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 (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS 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.

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