Petros Family Wealth LLC Takes $477,000 Position in Arista Networks, Inc. (NYSE:ANET)

Petros Family Wealth LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,320 shares of the technology company's stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Caitlin John LLC increased 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 worth $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised 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 lifted its stake 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 buying an additional 198 shares during the period. Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 195 shares during the period. 82.47% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley cut their price objective on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler cut their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Erste Group Bank cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. One equities 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, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $104.29.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business'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 sale, the director now owns 155,784 shares of the company's stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 138,351 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,031 shares of company stock valued at $39,364,943. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

Shares of NYSE ANET traded down $0.42 during trading hours on Tuesday, hitting $73.17. The company's stock had a trading volume of 8,994,069 shares, compared to its average volume of 9,155,029. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The stock has a market cap of $92.27 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 3.10 and a beta of 1.30. The business has a 50-day simple moving average of $87.90 and a 200-day simple moving average of $99.99.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS 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.