Lee Danner & Bass Inc. Takes Position in Arista Networks, Inc. (NYSE:ANET)

Lee Danner & Bass Inc. acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,060 shares of the technology company's stock, valued at approximately $559,000.

Other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC grew its holdings in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after purchasing an additional 35 shares during the last quarter. Freedom Investment Management Inc. grew its stake in Arista Networks by 2.3% in the 3rd quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company's stock valued at $622,000 after buying an additional 36 shares during the last quarter. LRI Investments LLC raised its holdings in Arista Networks by 3.1% in the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company's stock worth $528,000 after acquiring an additional 41 shares during the period. Rehmann Capital Advisory Group lifted its position in Arista Networks by 3.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company's stock worth $453,000 after acquiring an additional 43 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Arista Networks by 3.3% in the third quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company's stock valued at $715,000 after purchasing an additional 59 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

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Arista Networks Price Performance

Shares of ANET traded down $0.64 during mid-day trading on Tuesday, reaching $86.87. The company had a trading volume of 7,776,843 shares, compared to its average volume of 8,570,789. The company's 50-day moving average is $102.03 and its 200-day moving average is $101.92. The company has a market capitalization of $109.55 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

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, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and increased their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Piper Sandler restated a "neutral" rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.00.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company's 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 transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last ninety days. Corporate 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.