Phoenix Financial Ltd. Acquires 27,026 Shares of Arista Networks, Inc. (NYSE:ANET)

Phoenix Financial Ltd. raised its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 275.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,845 shares of the technology company's stock after purchasing an additional 27,026 shares during the period. Phoenix Financial Ltd.'s holdings in Arista Networks were worth $4,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares during the period. Cranbrook Wealth Management LLC grew its position in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont raised its stake 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. Finally, New Millennium Group LLC lifted 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. Hedge funds and other institutional investors own 82.47% of the company's stock.

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Arista Networks Trading Down 0.2 %

Shares of ANET stock traded down $0.15 on Friday, reaching $72.50. 11,224,936 shares of the company's stock were exchanged, compared to its average volume of 9,205,073. The company's fifty day simple moving average is $88.74 and its 200 day simple moving average is $100.12. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The stock has a market capitalization of $91.43 billion, a PE ratio of 32.66, a P/E/G ratio of 3.10 and a beta of 1.30.

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 for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on ANET shares. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley cut their price objective on Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup boosted their target price on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities restated a "sell" rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average price target of $108.50.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares of the company's stock, valued at $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The shares were 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 of the company's stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock valued at $39,364,943 in the last three months. Company insiders own 3.54% of the company's stock.

Arista Networks 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.