Martingale Asset Management L P Acquires 206,718 Shares of Arista Networks, Inc. (NYSE:ANET)

Martingale Asset Management L P increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 370.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 262,465 shares of the technology company's stock after buying an additional 206,718 shares during the period. Martingale Asset Management L P's holdings in Arista Networks were worth $29,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Caitlin John LLC grew its holdings in shares of Arista Networks by 174.7% during the fourth 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 boosted its stake in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $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% during 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 last quarter. Trust Co. of Vermont raised 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 worth $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% during 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. Institutional investors own 82.47% of the company's stock.

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Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 138,351 shares of the business's 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 sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now owns 139,784 shares of the company's stock, valued at $10,840,249.20. This represents a 5.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Down 0.2 %

NYSE:ANET traded down $0.15 during trading hours on Friday, hitting $72.50. 11,224,936 shares of the stock traded hands, compared to its average volume of 9,149,886. The company has a market cap of $91.43 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The stock has a 50 day moving average price of $88.74 and a 200 day moving average price of $100.14.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.90 billion. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ANET shares. Rosenblatt Securities reissued a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group upgraded shares of 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. Morgan Stanley cut 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. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Piper Sandler cut their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and a consensus target price of $108.50.

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.