Ewa LLC Buys Shares of 809 Arista Networks, Inc. (NYSE:ANET)

Ewa LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, HoldingsChannel reports. The fund purchased 809 shares of the technology company’s stock, valued at approximately $191,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ballentine Partners LLC purchased a new position in Arista Networks during the third quarter worth about $262,000. Valeo Financial Advisors LLC increased its holdings in Arista Networks by 18.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,590 shares of the technology company’s stock worth $292,000 after acquiring an additional 249 shares during the period. Lake Street Financial LLC increased its holdings in Arista Networks by 64.6% during the 3rd quarter. Lake Street Financial LLC now owns 4,648 shares of the technology company’s stock worth $857,000 after acquiring an additional 1,824 shares during the period. Brookstone Capital Management bought a new stake in Arista Networks during the 3rd quarter worth approximately $1,561,000. Finally, Trinity Street Asset Management LLP grew its stake in Arista Networks by 3.2% in the 3rd quarter. Trinity Street Asset Management LLP now owns 90,511 shares of the technology company’s stock worth $16,648,000 after buying an additional 2,838 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Piper Sandler increased their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. Insiders sold 332,514 shares of company stock worth $95,369,397 over the last three months. 18.99% of the stock is owned by corporate insiders.

Arista Networks Trading Down 1.1 %

ANET traded down $2.79 during trading hours on Monday, hitting $261.91. The company’s stock had a trading volume of 1,060,689 shares, compared to its average volume of 2,464,542. The business’s 50-day moving average price is $279.09 and its 200-day moving average price is $247.61. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The stock has a market cap of $82.14 billion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 2.26 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share. On average, analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

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.