Ghe LLC Buys 21,597 Shares of Arista Networks, Inc. (NYSE:ANET)

Ghe LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 319.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,368 shares of the technology company’s stock after purchasing an additional 21,597 shares during the quarter. Arista Networks comprises about 1.2% of Ghe LLC’s portfolio, making the stock its 17th biggest position. Ghe LLC’s holdings in Arista Networks were worth $3,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in Arista Networks in the third quarter valued at approximately $44,000. HM Payson & Co. raised its holdings in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC raised its holdings in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC raised its holdings in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares during the period. Finally, Transcendent Capital Group LLC raised its holdings in Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after purchasing an additional 75 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of several analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Barclays increased their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group raised their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Rosenblatt Securities restated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Performance

Shares of ANET stock opened at $98.31 on Monday. The company has a market capitalization of $123.97 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 3.27 and a beta of 1.09. The company has a 50-day simple moving average of $113.66 and a 200 day simple moving average of $102.01. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last announced 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 the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Sell-side analysts forecast that Arista Networks, Inc. will post 2.19 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders sold 260,056 shares of company stock worth $30,225,623 in the last quarter. 3.54% of the stock is currently owned by corporate 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.