Arista Networks, Inc. (NYSE:ANET) Shares Acquired by IHT Wealth Management LLC

IHT Wealth Management LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 118.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,250 shares of the technology company's stock after acquiring an additional 15,851 shares during the period. IHT Wealth Management LLC's holdings in Arista Networks were worth $3,233,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ANET. Stock Yards Bank & Trust Co. acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $242,000. GHE LLC raised its holdings in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock valued at $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC grew its holdings in shares of Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in Arista Networks in the fourth quarter valued at about $630,000. Finally, Berkshire Capital Holdings Inc. lifted its position in Arista Networks by 257.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after purchasing an additional 55,430 shares during the period. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

Shares of ANET stock traded up $2.67 during mid-day trading on Friday, reaching $77.96. 12,455,703 shares of the company's stock traded hands, compared to its average volume of 11,294,535. The firm has a 50 day moving average price of $81.23 and a two-hundred day moving average price of $98.52. The firm has a market capitalization of $97.89 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.57.

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 (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the director now directly owns 7,480 shares in the company, valued at $512,305.20. This represents a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,355 shares of company stock worth $39,446,799. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

ANET has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Piper Sandler lowered their price target 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. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and raised their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Morgan Stanley decreased their target price on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

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.