Townsquare Capital LLC Purchases 27,307 Shares of Arista Networks, Inc. (NYSE:ANET)

Townsquare Capital LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 351.5% in the 4th quarter, Holdings Channel reports. The fund owned 35,076 shares of the technology company’s stock after acquiring an additional 27,307 shares during the quarter. Townsquare Capital LLC’s holdings in Arista Networks were worth $3,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Caitlin John LLC raised its holdings 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 purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of 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 acquiring an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC lifted its position in Arista Networks by 300.0% during the 4th 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 during the period. Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $73.50 on Tuesday. The business’s 50-day moving average is $87.90 and its two-hundred day moving average is $99.99. The company has a market cap of $92.69 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ANET shares. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Citigroup cut their target price on Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.43.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock worth $39,364,943 in the last three months. Corporate insiders own 3.54% of the company’s stock.

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.