Bell Asset Management Ltd Acquires 28,546 Shares of Arista Networks, Inc. (NYSE:ANET)

Bell Asset Management Ltd boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 177.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,592 shares of the technology company's stock after acquiring an additional 28,546 shares during the quarter. Bell Asset Management Ltd's holdings in Arista Networks were worth $4,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Piper Sandler cut their target price on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research note on Tuesday. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company restated an "overweight" 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 given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.50.

Arista Networks Trading Down 3.8 %

ANET stock traded down $2.89 during trading on Thursday, reaching $73.11. The stock had a trading volume of 7,160,629 shares, compared to its average volume of 9,159,585. The stock's 50 day moving average is $90.32 and its two-hundred day moving average is $100.45. The firm has a market cap of $92.20 billion, a PE ratio of 32.65, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.90 billion. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity

In other news, SVP Marc Taxay sold 51,848 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm's 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 transaction, the director now directly owns 8,128 shares of the company's stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock valued at $39,364,943 in the last 90 days. Company insiders own 3.54% of the company's stock.

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.