2,533 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by TKG Advisors LLC

TKG Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,533 shares of the technology company's stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Laidlaw Wealth Management LLC bought a new stake in Arista Networks in the 4th quarter valued at $201,000. Lyell Wealth Management LP acquired a new stake in shares of Arista Networks during the fourth quarter worth $225,000. Global Retirement Partners LLC boosted its position in shares of Arista Networks by 285.3% in the fourth quarter. Global Retirement Partners LLC now owns 11,733 shares of the technology company's stock valued at $1,297,000 after acquiring an additional 8,688 shares during the period. DSM Capital Partners LLC grew its stake in shares of Arista Networks by 259.7% in the fourth quarter. DSM Capital Partners LLC now owns 5,188,878 shares of the technology company's stock valued at $573,527,000 after acquiring an additional 3,746,407 shares in the last quarter. Finally, Convergence Investment Partners LLC increased its position in Arista Networks by 537.2% during the fourth quarter. Convergence Investment Partners LLC now owns 56,523 shares of the technology company's stock worth $6,247,000 after acquiring an additional 47,652 shares during the period. Institutional investors own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ANET shares. Barclays boosted their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the company an "overweight" rating in a report on Wednesday. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Piper Sandler reaffirmed a "neutral" rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday. Finally, Rosenblatt Securities reissued a "sell" rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday. One research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.79.

Arista Networks Stock Down 4.9 %

Shares of ANET stock traded down $5.10 on Friday, reaching $98.31. The company had a trading volume of 13,984,341 shares, compared to its average volume of 10,062,921. The business's 50-day moving average is $113.94 and its 200 day moving average is $101.57. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market capitalization of $123.84 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data 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 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,056 shares of company stock worth $30,225,623. Insiders own 3.54% of the company's stock.

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.