Arista Networks, Inc. (NYSE:ANET) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 283.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,041,437 shares of the technology company’s stock after acquiring an additional 2,248,306 shares during the period. Arista Networks comprises approximately 0.4% of AQR Capital Management LLC’s holdings, making the stock its 26th largest holding. AQR Capital Management LLC owned about 0.24% of Arista Networks worth $336,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Caitlin John LLC increased its position in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of 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 buying an additional 191 shares in the last quarter. New Millennium Group LLC boosted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Quarry LP boosted its holdings in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 206 shares in the last quarter. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock valued at $39,446,799 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 0.5 %

Arista Networks stock opened at $78.33 on Tuesday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The firm’s fifty day simple moving average is $80.06 and its 200-day simple moving average is $98.13. The company has a market capitalization of $98.35 billion, a P/E ratio of 35.28, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler decreased their price objective on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Citigroup cut their target price on shares of Arista Networks from $121.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Morgan Stanley decreased their price target on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI cut their price objective on Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price 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.