206,985 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Benchstone Capital Management LP

Benchstone Capital Management LP bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 206,985 shares of the technology company's stock, valued at approximately $22,878,000. Arista Networks comprises approximately 2.4% of Benchstone Capital Management LP's investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC grew its stake in shares of Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock worth $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC grew its position in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after buying an additional 35 shares during the period. Caitlin John LLC increased 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 valued at $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 fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares during the period. Finally, New Millennium Group LLC grew its position in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 195 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts have issued reports on ANET shares. Needham & Company LLC reiterated a "buy" rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Piper Sandler restated a "neutral" rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Price Performance

Shares of ANET stock traded down $0.64 on Tuesday, hitting $86.87. The stock had a trading volume of 7,776,843 shares, compared to its average volume of 8,572,881. The company's 50 day moving average price is $101.47 and its 200-day moving average price is $101.98. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm has a market capitalization of $109.55 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 over the last 90 days. Corporate 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.