11,308 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Myriad Asset Management US LP

Myriad Asset Management US LP acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,308 shares of the technology company's stock, valued at approximately $1,250,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Zions Bancorporation N.A. boosted its stake in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company's stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC boosted its stake in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company's stock valued at $740,000 after acquiring an additional 27 shares in the last quarter. Altman Advisors Inc. boosted its stake in Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company's stock valued at $2,250,000 after acquiring an additional 28 shares in the last quarter. HM Payson & Co. boosted its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company's stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC boosted its stake in Arista Networks by 4.9% in the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company's stock valued at $246,000 after acquiring an additional 30 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The shares were 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 owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the completion of the sale, the insider now owns 288 shares in the company, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 337,320 shares of company stock worth $37,946,706. 3.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ANET shares. The Goldman Sachs Group raised their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. UBS Group raised their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a report on Friday, November 8th. Morgan Stanley raised their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company raised their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. 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 company's stock. According to data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $107.59.

Arista Networks Price Performance

ANET stock traded up $4.18 during midday trading on Tuesday, hitting $111.05. 20,565,694 shares of the stock traded hands, compared to its average volume of 9,419,350. The firm has a market cap of $139.89 billion, a P/E ratio of 53.39, a PEG ratio of 3.10 and a beta of 1.09. The stock's fifty day simple moving average is $113.95 and its 200-day simple moving average is $101.32. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. On average, research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

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.