Arista Networks, Inc. (NYSE:ANET) Shares Bought by First Washington CORP

First Washington CORP grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 386.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,880 shares of the technology company's stock after buying an additional 37,237 shares during the quarter. Arista Networks accounts for 1.8% of First Washington CORP's investment portfolio, making the stock its 19th largest position. First Washington CORP's holdings in Arista Networks were worth $5,182,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Caitlin John LLC boosted its stake 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 acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the last quarter. New Millennium Group LLC grew its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares in the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $3.20 during trading on Wednesday, hitting $71.87. The company's stock had a trading volume of 6,650,350 shares, compared to its average volume of 9,085,135. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The business has a 50 day moving average price of $82.57 and a two-hundred day moving average price of $98.87. The company has a market capitalization of $90.24 billion, a PE ratio of 32.37, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last announced 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares of the company's stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,863 shares of company stock valued at $39,344,612 over the last three months. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on ANET. Piper Sandler cut their price objective on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Barclays reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup reduced their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. One investment 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 stock presently has an average rating of "Moderate Buy" and an average price target of $104.29.

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.