First Foundation Advisors Purchases 31,197 Shares of Arista Networks, Inc. (NYSE:ANET)

First Foundation Advisors raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 355.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 39,964 shares of the technology company's stock after purchasing an additional 31,197 shares during the quarter. First Foundation Advisors' holdings in Arista Networks were worth $4,417,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ANET. Anchor Investment Management LLC grew its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after purchasing an additional 35 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Arista Networks by 3.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company's stock worth $453,000 after buying an additional 43 shares during the period. Old North State Trust LLC grew its position in shares of Arista Networks by 6.9% in the 3rd quarter. Old North State Trust LLC now owns 1,371 shares of the technology company's stock worth $526,000 after buying an additional 89 shares during the last quarter. Caitlin John LLC increased its stake in shares of Arista Networks by 174.7% during 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 during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

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Arista Networks Stock Down 0.2 %

Shares of NYSE:ANET traded down $0.15 on Friday, hitting $72.50. 11,224,936 shares of the company traded hands, compared to its average volume of 9,205,073. The stock has a 50 day simple moving average of $88.74 and a 200-day simple moving average of $100.12. The company has a market cap of $91.43 billion, a PE ratio of 32.66, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now owns 92,641 shares in the company, 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 sold a total of 411,031 shares of company stock worth $39,364,943 in the last three months. Insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Piper Sandler reduced their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Barclays reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley cut their price objective on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.50.

About Arista Networks

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.