Ieq Capital LLC Has $22.52 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Ieq Capital LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 424.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 203,703 shares of the technology company's stock after buying an additional 164,836 shares during the quarter. Ieq Capital LLC's holdings in Arista Networks were worth $22,515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks during the fourth quarter worth about $242,000. Silver Oak Securities Incorporated lifted its position in shares of Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock worth $2,072,000 after purchasing an additional 14,843 shares in the last quarter. Proactive Wealth Strategies LLC boosted its holdings in Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company's stock worth $676,000 after purchasing an additional 4,865 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its position in Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company's stock valued at $66,599,000 after purchasing an additional 449,088 shares in the last quarter. Finally, 5T Wealth LLC acquired a new stake in Arista Networks in the 4th quarter valued at $1,046,000. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares of the company's stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 259,944 shares of company stock worth $30,214,186. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on ANET shares. Barclays lifted their target price on Arista Networks from $125.00 to $126.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group increased their price target on Arista Networks from $106.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday. Piper Sandler restated a "neutral" rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday. Finally, Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $113.79.

Arista Networks Trading Down 4.6 %

NYSE ANET traded down $4.77 during trading on Friday, hitting $98.63. 9,318,845 shares of the company's stock were exchanged, compared to its average volume of 9,905,531. The company has a market cap of $124.25 billion, a PE ratio of 44.48, a P/E/G ratio of 2.79 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The stock's 50 day moving average price is $113.94 and its two-hundred day moving average price is $101.57.

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, topping the consensus estimate 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. Analysts forecast that Arista Networks, Inc. will post 2.18 earnings per share for the current fiscal 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.