Meitav Investment House Ltd. Takes $939,000 Position in Arista Networks, Inc. (NYSE:ANET)

Meitav Investment House Ltd. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,459 shares of the technology company's stock, valued at approximately $939,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitlin John LLC increased its position in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont increased its position in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the period. New Millennium Group LLC raised its holdings in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in shares of Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company's stock worth $31,000 after purchasing an additional 253 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % 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 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,944 shares of company stock worth $30,214,186 over the last quarter. Insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE ANET traded down $5.10 during midday trading on Friday, reaching $98.31. The stock had a trading volume of 11,092,236 shares, compared to its average volume of 9,932,076. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a 50-day moving average of $113.94 and a 200-day moving average of $101.57. The company has a market capitalization of $123.84 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09.

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, 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 analysts' expectations of $1.90 billion. As a group, analysts forecast that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group increased their price target on shares of Arista Networks from $106.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday. Barclays raised their target price on Arista Networks from $125.00 to $126.00 and gave the company an "overweight" rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday. Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $113.79.

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.