Cerity Partners LLC Has $10.40 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Cerity Partners LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 193.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,094 shares of the technology company's stock after purchasing an additional 64,640 shares during the period. Cerity Partners LLC's holdings in Arista Networks were worth $10,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ANET. Anchor Investment Management LLC boosted its position in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after purchasing an additional 35 shares during the period. Caitlin John LLC boosted its holdings in shares of 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 during the period. Capital Advisors Ltd. LLC boosted its holdings 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 during the period. New Millennium Group LLC increased its position 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 acquiring an additional 195 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. 82.47% of the stock is currently owned by institutional investors.

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Arista Networks Price Performance

Shares of ANET stock traded down $0.15 on Friday, hitting $72.50. The company's stock had a trading volume of 11,224,936 shares, compared to its average volume of 9,205,073. The stock has a market capitalization of $91.43 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The firm's fifty day moving average price is $88.74 and its 200-day moving average price is $100.12.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on ANET. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, Piper Sandler reduced their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $108.50.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now directly owns 139,784 shares in the company, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,031 shares of company stock worth $39,364,943 in the last quarter. 3.54% of the stock is currently owned by company insiders.

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.