Tilt Investment Management Holdings PBC Purchases New Holdings in Arista Networks, Inc. (NYSE:ANET)

Tilt Investment Management Holdings PBC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th 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 and hedge funds have also recently bought and sold shares of the company. AXQ Capital LP bought a new stake in Arista Networks in the third quarter valued at approximately $791,000. Advisor Resource Council increased its stake in shares of Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 5,866 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 194 shares during the period. WCM Investment Management LLC increased its stake in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after purchasing an additional 16,081 shares during the period. Finally, Cambridge Trust Co. increased its stake in shares of Arista Networks by 70.1% during the third quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock worth $9,243,000 after purchasing an additional 20,704 shares during the period. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of recent research reports. Piper Sandler increased their target price on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. increased their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. KeyCorp increased their price target on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. The Goldman Sachs Group increased their price target on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company increased their price target on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Stock Performance

Shares of ANET stock opened at $254.01 on Friday. The stock’s fifty day moving average price is $281.02 and its two-hundred day moving average price is $244.15. The company has a market cap 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 fifty-two week low of $131.68 and a fifty-two week high of $307.74.

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

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Insiders have sold a total of 342,229 shares of company stock valued at $97,968,530 in the last 90 days. 18.99% of the stock is 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.