Banco Bilbao Vizcaya Argentaria S.A. Grows Stake in Arista Networks, Inc. (NYSE:ANET)

Banco Bilbao Vizcaya Argentaria S.A. raised its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 304.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,677 shares of the technology company's stock after acquiring an additional 111,204 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Arista Networks were worth $16,352,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ANET. Caitlin John LLC grew 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 worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its stake 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 in the last quarter. New Millennium Group LLC lifted its stake 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 in the last quarter. Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% in 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 in the last quarter. Finally, Trust Co. of Vermont lifted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Trading Up 1.8 %

Shares of NYSE:ANET traded up $1.41 during mid-day trading on Tuesday, reaching $79.72. The stock had a trading volume of 4,939,143 shares, compared to its average volume of 9,075,972. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The business's 50 day moving average price is $80.06 and its 200 day moving average price is $98.13. The company has a market cap of $100.10 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was 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. The trade was a 5.41 % 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 worth $39,446,799 over the last ninety days. Company insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the topic of several analyst reports. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Piper Sandler cut their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Barclays reissued an "overweight" 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 issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.