Guggenheim Capital LLC Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Guggenheim Capital LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 250.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,085 shares of the technology company’s stock after acquiring an additional 110,056 shares during the quarter. Guggenheim Capital LLC’s holdings in Arista Networks were worth $17,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitlin John LLC raised its position in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the period. New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. Finally, Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,031 shares of company stock worth $39,364,943. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Piper Sandler cut their price target on Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $104.29.

Arista Networks Price Performance

Shares of ANET opened at $73.17 on Wednesday. The company’s fifty day moving average price is $87.06 and its 200-day moving average price is $99.81. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The firm has a market capitalization of $92.27 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

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

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.