BluePointe Capital Management LLC Has $1.47 Million Position in Arista Networks, Inc. (NYSE:ANET)

BluePointe Capital Management LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 311.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,286 shares of the technology company's stock after buying an additional 10,056 shares during the period. BluePointe Capital Management LLC's holdings in Arista Networks were worth $1,469,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC grew its holdings in shares of Arista Networks by 149.2% during the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company's stock worth $1,112,000 after purchasing an additional 1,734 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of Arista Networks by 6.4% during the 3rd quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company's stock worth $9,863,000 after purchasing an additional 1,554 shares in the last quarter. Caprock Group LLC grew its holdings in shares of Arista Networks by 24.8% during the 3rd quarter. Caprock Group LLC now owns 7,429 shares of the technology company's stock worth $2,851,000 after purchasing an additional 1,475 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Arista Networks by 52.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company's stock worth $70,000 after purchasing an additional 63 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of Arista Networks by 4.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,348 shares of the technology company's stock worth $2,053,000 after purchasing an additional 226 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANET. Barclays reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler reaffirmed a "neutral" rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com lowered Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Insider Activity

In related 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 sale, the director now directly owns 163,784 shares of the company's stock, valued at $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Arista Networks stock traded up $0.29 on Friday, reaching $83.26. The company's stock had a trading volume of 10,783,647 shares, compared to its average volume of 8,572,084. The company has a market cap of $104.99 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.10 and a beta of 1.08. The business's fifty day moving average price is $102.53 and its 200 day moving average price is $101.89. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month 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 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.