Freedom Investment Management Inc. Has $983,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Freedom Investment Management Inc. grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 448.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,894 shares of the technology company's stock after acquiring an additional 7,273 shares during the period. Freedom Investment Management Inc.'s holdings in Arista Networks were worth $983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ANET. Caitlin John LLC lifted its holdings in shares of Arista Networks by 174.7% in the 4th 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. Capital Advisors Ltd. LLC boosted its position in shares of 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 in the last quarter. New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the period. Cranbrook Wealth Management LLC increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares in 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 valued at $29,000 after purchasing an additional 198 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

ANET traded up $2.58 during trading on Wednesday, hitting $71.25. The company had a trading volume of 5,951,082 shares, compared to its average volume of 9,082,225. The company has a market cap of $89.46 billion, a PE ratio of 32.09, a P/E/G ratio of 3.10 and a beta of 1.30. The business has a 50-day moving average of $82.57 and a 200-day moving average of $98.87. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANET. Evercore ISI cut their price target on 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. Morgan Stanley reduced their target price 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. Needham & Company LLC reissued a "buy" rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Citigroup cut their price target on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $104.29.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares of the company's stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,863 shares of company stock worth $39,344,612. Insiders own 3.54% of the company's stock.

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.