Quadrant Capital Group LLC Buys 8,767 Shares of Arista Networks, Inc. (NYSE:ANET)

Quadrant Capital Group LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 290.2% in the 4th quarter, HoldingsChannel reports. The firm owned 11,788 shares of the technology company’s stock after acquiring an additional 8,767 shares during the quarter. Quadrant Capital Group LLC’s holdings in Arista Networks were worth $1,303,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ANET. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks during the 4th quarter worth $242,000. GHE LLC raised its stake in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC lifted its holdings in shares of Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new stake in shares of Arista Networks in the 4th quarter valued at approximately $630,000. Finally, Berkshire Capital Holdings Inc. grew its holdings in shares of Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after purchasing an additional 55,430 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,001 shares of company stock worth $39,362,831 in the last quarter. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 9.8 %

Shares of ANET opened at $64.28 on Monday. The firm’s fifty day simple moving average is $94.01 and its two-hundred day simple moving average is $101.37. Arista Networks, Inc. has a 12 month low of $57.80 and a 12 month high of $133.58. The stock has a market capitalization of $81.07 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

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.