Arista Networks, Inc. (NYSE:ANET) Stock Position Lifted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 358.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 694,506 shares of the technology company's stock after purchasing an additional 542,978 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.06% of Arista Networks worth $76,764,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Anchor Investment Management LLC boosted its holdings in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after acquiring an additional 35 shares during the last quarter. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% in 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 in the last quarter. New Millennium Group LLC grew its holdings in shares of Arista Networks by 300.0% during 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 during the period. Finally, Cranbrook Wealth Management LLC increased its position in Arista Networks by 300.0% during the 4th 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. 82.47% of the stock is owned by hedge funds and other institutional investors.

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Arista Networks Price Performance

Shares of ANET stock traded down $0.42 on Tuesday, hitting $73.17. 8,994,069 shares of the stock traded hands, compared to its average volume of 9,155,029. The company's fifty day moving average is $87.90 and its 200 day moving average is $99.99. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a market capitalization of $92.27 billion, a PE ratio of 32.96, a PEG ratio of 3.10 and a beta of 1.30.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ANET. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. 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 reduced their target price on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI lowered their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.29.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now directly owns 139,784 shares of the company's stock, valued at $10,840,249.20. The trade was a 5.41 % 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 worth $39,364,943 over the last ninety days. Company insiders own 3.54% of the company's stock.

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.