Symmetry Investments LP Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Symmetry Investments LP grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 2,348.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,617 shares of the technology company's stock after purchasing an additional 246,135 shares during the period. Arista Networks comprises 1.5% of Symmetry Investments LP's portfolio, making the stock its 9th largest holding. Symmetry Investments LP's holdings in Arista Networks were worth $28,364,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in Arista Networks during the third quarter worth about $123,000. Virtu Financial LLC bought a new stake in shares of Arista Networks in the 3rd quarter worth approximately $1,752,000. World Investment Advisors LLC acquired a new stake in shares of Arista Networks during the 3rd quarter worth approximately $401,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Arista Networks during the third quarter valued at approximately $2,222,000. Finally, Tidal Investments LLC raised its stake in shares of Arista Networks by 5.6% in the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company's stock valued at $14,348,000 after purchasing an additional 1,998 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the transaction, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. This represents a 16.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock worth $39,446,799 in the last three months. Insiders own 3.54% of the company's stock.

Arista Networks Stock Up 6.3 %

Arista Networks stock traded up $4.49 during midday trading on Thursday, hitting $75.25. 11,753,218 shares of the stock were exchanged, compared to its average volume of 9,109,114. The stock has a market capitalization of $94.49 billion, a PE ratio of 33.90, a P/E/G ratio of 3.10 and a beta of 1.30. The company has a fifty day simple moving average of $81.23 and a two-hundred day simple moving average of $98.52. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ANET. Evercore ISI dropped their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Barclays reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler decreased their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Rosenblatt Securities cut their price objective on Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a research report on Tuesday. Finally, UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and increased their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. One equities 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

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.