Aigen Investment Management LP Purchases 19,960 Shares of Arista Networks, Inc. (NYSE:ANET)

Aigen Investment Management LP lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 1,214.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,604 shares of the technology company’s stock after buying an additional 19,960 shares during the quarter. Aigen Investment Management LP’s holdings in Arista Networks were worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of Arista Networks during the third quarter worth $44,000. True Wealth Design LLC increased its position in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the period. Anchor Investment Management LLC raised its stake in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares in the last quarter. Transcendent Capital Group LLC boosted its holdings in Arista Networks by 75.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after purchasing an additional 75 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of Arista Networks by 52.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock worth $70,000 after purchasing an additional 63 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ANET. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company upped their target price on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI boosted 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, Barclays raised their target price on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.79.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction that occurred on 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 $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 17,433 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.14, for a total value of $1,623,709.62. Following the completion of the transaction, the insider now directly owns 17,433 shares in the company, valued at approximately $1,623,709.62. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,441 shares of company stock valued at $45,713,162. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Down 0.9 %

Shares of ANET stock opened at $85.26 on Wednesday. The firm has a market capitalization of $107.53 billion, a P/E ratio of 38.41, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The stock’s fifty day simple moving average is $110.66 and its 200 day simple moving average is $102.25.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company 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.