38,960 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by GKV Capital Management Co. Inc.

GKV Capital Management Co. Inc. bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, HoldingsChannel reports. The firm bought 38,960 shares of the technology company’s stock, valued at approximately $4,306,000. Arista Networks makes up approximately 1.8% of GKV Capital Management Co. Inc.’s holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Commonwealth Financial Corp PA lifted its stake in shares of Arista Networks by 124.3% in the fourth quarter. First Commonwealth Financial Corp PA now owns 11,728 shares of the technology company’s stock worth $1,296,000 after buying an additional 6,500 shares in the last quarter. Gratus Wealth Advisors LLC boosted its stake in Arista Networks by 299.7% during the 4th quarter. Gratus Wealth Advisors LLC now owns 13,169 shares of the technology company’s stock valued at $1,456,000 after purchasing an additional 9,874 shares during the last quarter. Zacks Investment Management increased its holdings in shares of Arista Networks by 443.9% in the 4th quarter. Zacks Investment Management now owns 439,344 shares of the technology company’s stock worth $48,561,000 after purchasing an additional 358,564 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Arista Networks by 527.0% in the fourth quarter. NewEdge Advisors LLC now owns 143,078 shares of the technology company’s stock worth $15,814,000 after purchasing an additional 120,259 shares during the last quarter. Finally, Everest Management Corp. bought a new position in shares of Arista Networks during the fourth quarter valued at $401,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 1.7 %

Shares of NYSE:ANET opened at $71.94 on Thursday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The business’s 50 day moving average is $86.13 and its 200 day moving average is $99.61. The stock has a market cap of $90.73 billion, a P/E ratio of 32.41, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This represents a 5.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock valued at $39,364,943 over the last 90 days. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and raised their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Citigroup reduced their price objective on Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.29.

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.