Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 316.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,309 shares of the technology company's stock after purchasing an additional 53,426 shares during the period. Bessemer Group Inc.'s holdings in Arista Networks were worth $7,771,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC boosted its position in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after acquiring an additional 35 shares in the last quarter. Caitlin John LLC raised its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in 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 during the last quarter. New Millennium Group LLC lifted its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the period. Finally, Cranbrook Wealth Management LLC grew its stake in Arista Networks by 300.0% during 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 last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

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Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock worth $39,364,943 over the last three months. Insiders own 3.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ANET shares. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Needham & Company LLC restated a "buy" rating and set a $145.00 target price 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 upped their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Rosenblatt Securities restated a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $104.29.

Arista Networks Price Performance

Arista Networks stock traded down $0.31 during midday trading on Wednesday, reaching $72.89. The company had a trading volume of 2,561,195 shares, compared to its average volume of 11,285,315. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.57. The firm's fifty day simple moving average is $87.06 and its 200-day simple moving average is $99.81. The company has a market capitalization of $91.92 billion, a P/E ratio of 32.83, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.