Arista Networks, Inc. (NYSE:ANET) Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its position in shares of Arista Networks, Inc. (NYSE:ANET) by 69.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 875 shares of the technology company’s stock after selling 2,021 shares during the period. AlphaQuest LLC’s holdings in Arista Networks were worth $97,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Caitlin John LLC increased its stake 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 purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in Arista Networks by 300.0% in 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. Trust Co. of Vermont increased its stake in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC increased its stake 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. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $83.96 on Wednesday. The firm has a market cap of $105.88 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58. The stock has a 50-day simple moving average of $104.44 and a 200-day simple moving average of $101.89.

Arista Networks (NYSE:ANET) last posted 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ANET shares. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by insiders.

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.