1,039 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Tilt Investment Management Holdings PBC

Tilt Investment Management Holdings PBC purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,039 shares of the technology company’s stock, valued at approximately $245,000.

Other institutional investors also recently bought and sold shares of the company. Cibc World Market Inc. increased its stake in shares of Arista Networks by 135.9% during the first quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock valued at $4,729,000 after purchasing an additional 19,602 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Arista Networks by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock valued at $175,274,000 after purchasing an additional 19,738 shares in the last quarter. Prudential PLC bought a new position in shares of Arista Networks during the first quarter valued at approximately $676,000. Sequoia Financial Advisors LLC bought a new position in shares of Arista Networks during the first quarter valued at approximately $224,000. Finally, Vanguard Group Inc. increased its stake in shares of Arista Networks by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after purchasing an additional 353,253 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $254.01 on Friday. The company’s fifty day simple moving average is $281.02 and its 200-day simple moving average is $244.15. The stock has a market capitalization of $79.41 billion, a PE ratio of 39.16, a P/E/G ratio of 2.21 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ANET. KeyCorp raised their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Piper Sandler raised their price target 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. Rosenblatt Securities reissued a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 8,002 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $267.39, for a total transaction of $2,139,654.78. Following the sale, the chief executive officer now directly owns 74,764 shares in the company, valued at approximately $19,991,145.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 8,002 shares of Arista Networks stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $267.39, for a total transaction of $2,139,654.78. Following the completion of the sale, the chief executive officer now owns 74,764 shares in the company, valued at $19,991,145.96. The disclosure for this sale can be found here. Insiders have sold 342,229 shares of company stock worth $97,968,530 in the last 90 days. 18.99% of the stock is currently owned by insiders.

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.