Eagle Ridge Investment Management Has $608,000 Position in Arista Networks, Inc. (NYSE:ANET)

Eagle Ridge Investment Management increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,500 shares of the technology company’s stock after buying an additional 4,125 shares during the period. Eagle Ridge Investment Management’s holdings in Arista Networks were worth $608,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Caitlin John LLC raised its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont grew its position in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. New Millennium Group LLC grew its position in Arista Networks by 300.0% in the 4th 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 during the period. Finally, Westside Investment Management Inc. boosted its holdings in Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the transaction, the insider now owns 288 shares in the company, valued at approximately $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,832 shares of company stock worth $28,538,497 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

NYSE:ANET opened at $115.11 on Friday. The firm has a market cap of $145.01 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The business has a 50 day moving average price of $112.58 and a 200-day moving average price of $99.48.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. Research analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays cut their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks 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.