Whalerock Point Partners LLC Has $1.05 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Whalerock Point Partners LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,496 shares of the technology company's stock after buying an additional 7,122 shares during the quarter. Whalerock Point Partners LLC's holdings in Arista Networks were worth $1,050,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in Arista Networks in the third quarter valued at about $123,000. Virtu Financial LLC bought a new position in Arista Networks in the third quarter valued at about $1,752,000. World Investment Advisors LLC bought a new position in Arista Networks in the third quarter valued at about $401,000. Wilmington Savings Fund Society FSB bought a new position in Arista Networks in the third quarter valued at about $2,222,000. Finally, Tidal Investments LLC boosted its holdings in Arista Networks by 5.6% during the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company's stock worth $14,348,000 after buying an additional 1,998 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the sale, the director now owns 7,480 shares in the company, valued at approximately $512,305.20. The trade was a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,355 shares of company stock valued at $39,446,799 in the last ninety days. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

NYSE:ANET traded up $2.43 during mid-day trading on Tuesday, reaching $80.74. 11,448,385 shares of the company's stock were exchanged, compared to its average volume of 9,115,737. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market capitalization of $101.38 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The business's fifty day simple moving average is $79.60 and its two-hundred day simple moving average is $98.01.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating 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 firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. reduced their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities upgraded Arista Networks from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $55.00 to $85.00 in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $106.43.

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.