Virtus ETF Advisers LLC Buys 8,942 Shares of Arista Networks, Inc. (NYSE:ANET)

Virtus ETF Advisers LLC grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 322.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,716 shares of the technology company's stock after purchasing an additional 8,942 shares during the period. Arista Networks makes up approximately 0.5% of Virtus ETF Advisers LLC's holdings, making the stock its 29th largest holding. Virtus ETF Advisers LLC's holdings in Arista Networks were worth $1,295,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitlin John LLC grew its position in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its position 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 acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew 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 acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont grew its position in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its position in 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 acquiring an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was 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 in the company, valued at $512,305.20. This trade represents a 16.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 412,355 shares of company stock worth $39,446,799. Corporate insiders own 3.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities reduced their price objective on Arista Networks from $85.00 to $55.00 and set a "sell" rating on the stock in a report on Tuesday, April 22nd. Evercore ISI reduced their price objective on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Citigroup reduced their price objective on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $104.29.

Arista Networks Stock Up 0.5 %

Arista Networks stock traded up $0.42 during mid-day trading on Monday, hitting $78.33. 7,522,299 shares of the company's stock were exchanged, compared to its average volume of 9,091,918. The firm has a market capitalization of $98.35 billion, a P/E ratio of 35.28, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The company's 50 day simple moving average is $80.57 and its 200-day simple moving average is $98.31.

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, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for 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%. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.