J. Safra Sarasin Holding AG Buys 141,774 Shares of Arista Networks, Inc. (NYSE:ANET)

J. Safra Sarasin Holding AG lifted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 176.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,999 shares of the technology company's stock after buying an additional 141,774 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Arista Networks were worth $24,538,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC grew its stake in 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 last quarter. Capital Advisors Ltd. LLC lifted its holdings 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. Cranbrook Wealth Management LLC boosted its stake in 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 during the period. Trust Co. of Vermont grew its holdings 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. Finally, New Millennium Group LLC increased its position in 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 buying an additional 195 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ANET. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup dropped their price target on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Piper Sandler reduced their target price on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Barclays reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and a consensus target price of $104.29.

Insider Buying and Selling

In other 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 transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at $10,840,249.20. The trade was a 5.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,863 shares of company stock valued at $39,344,612. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $2.14 during midday trading on Wednesday, reaching $70.81. The company's stock had a trading volume of 11,578,864 shares, compared to its average volume of 9,103,532. The firm has a market capitalization of $88.91 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 3.10 and a beta of 1.30. The firm has a 50 day moving average price of $82.57 and a two-hundred day moving average price of $98.87. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating 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. As a group, research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.