Scotia Capital Inc. Has $10.91 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Scotia Capital Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 396.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,718 shares of the technology company's stock after buying an additional 78,836 shares during the quarter. Scotia Capital Inc.'s holdings in Arista Networks were worth $10,913,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc bought a new stake in shares of Arista Networks during the third quarter worth approximately $123,000. Continuum Advisory LLC grew its holdings in Arista Networks by 783.8% during the 3rd quarter. Continuum Advisory LLC now owns 327 shares of the technology company's stock worth $126,000 after acquiring an additional 290 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Arista Networks by 13.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,359 shares of the technology company's stock valued at $1,678,000 after purchasing an additional 503 shares during the period. Toronto Dominion Bank boosted its position in shares of Arista Networks by 1.0% in the 3rd quarter. Toronto Dominion Bank now owns 139,712 shares of the technology company's stock worth $53,624,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Arista Networks by 193.2% during the third quarter. Sunbelt Securities Inc. now owns 689 shares of the technology company's stock worth $264,000 after purchasing an additional 454 shares during the period. 82.47% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages have issued reports on ANET. Barclays restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler decreased their price objective on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley cut their target price on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.50.

Insider Transactions at Arista Networks

In other Arista Networks 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 transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on 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 transaction, the director now directly owns 139,784 shares in the company, valued at $10,840,249.20. The trade was a 5.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Down 0.2 %

Shares of NYSE:ANET traded down $0.15 during trading on Friday, hitting $72.50. 11,224,936 shares of the company were exchanged, compared to its average volume of 9,205,073. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The stock has a market cap of $91.43 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 3.10 and a beta of 1.30. The firm has a fifty day moving average price of $88.74 and a two-hundred day moving average price of $100.12.

Arista Networks (NYSE:ANET - Get Free Report) last posted 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 firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.