Arista Networks, Inc. (NYSE:ANET) Shares Bought by DE Burlo Group Inc.

DE Burlo Group Inc. raised its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 288.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,172 shares of the technology company's stock after acquiring an additional 12,754 shares during the period. DE Burlo Group Inc.'s holdings in Arista Networks were worth $1,898,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Morse Asset Management Inc purchased a new position in Arista Networks in the 3rd quarter worth about $123,000. Virtu Financial LLC purchased a new position in shares of Arista Networks during the third quarter worth approximately $1,752,000. World Investment Advisors LLC bought a new stake in shares of Arista Networks during the third quarter valued at approximately $401,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Arista Networks during the third quarter valued at approximately $2,222,000. Finally, Tidal Investments LLC raised its stake in shares of Arista Networks by 5.6% during the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company's stock valued at $14,348,000 after acquiring an additional 1,998 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the sale, the director now owns 7,480 shares of the company's stock, valued at $512,305.20. The trade was a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,355 shares of company stock valued at $39,446,799. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

NYSE ANET traded up $0.42 on Monday, hitting $78.33. The stock had a trading volume of 7,522,299 shares, compared to its average volume of 9,091,918. The business's fifty day moving average price is $80.57 and its 200 day moving average price is $98.31. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The stock has a market cap of $98.35 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on ANET. 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. Evercore ISI decreased their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities decreased their price target on shares of Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler decreased 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 note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $104.29.

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.