Gilder Gagnon Howe & Co. LLC Purchases 809,859 Shares of Arista Networks, Inc. (NYSE:ANET)

Gilder Gagnon Howe & Co. LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 217.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,182,032 shares of the technology company's stock after purchasing an additional 809,859 shares during the period. Arista Networks comprises approximately 1.4% of Gilder Gagnon Howe & Co. LLC's investment portfolio, making the stock its 18th biggest position. Gilder Gagnon Howe & Co. LLC owned approximately 0.09% of Arista Networks worth $130,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caitlin John LLC boosted its position in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares in the last quarter. New Millennium Group LLC increased its stake in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Cranbrook Wealth Management LLC boosted its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $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.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 7,480 shares of the company's stock, valued at approximately $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 90 days, insiders sold 412,355 shares of company stock valued at $39,446,799. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

ANET stock traded up $0.42 during mid-day trading on Monday, hitting $78.33. 7,522,299 shares of the stock were exchanged, compared to its average volume of 9,091,918. The stock has a market capitalization of $98.35 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 3.10 and a beta of 1.30. The business has a fifty day moving average price of $80.57 and a 200 day moving average price of $98.31. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ANET. Needham & Company LLC reissued a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Morgan Stanley decreased their price objective on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and boosted their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price 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.