Boothbay Fund Management LLC Grows Stake in Arista Networks, Inc. (NYSE:ANET)

Boothbay Fund Management LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 294.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,941 shares of the technology company’s stock after purchasing an additional 74,580 shares during the quarter. Boothbay Fund Management LLC’s holdings in Arista Networks were worth $11,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. acquired a new position in shares of Arista Networks in the 4th quarter valued at $242,000. GHE LLC grew its holdings in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its holdings in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Unified Investment Management purchased a new stake in shares of Arista Networks in the 4th quarter valued at about $630,000. Finally, Berkshire Capital Holdings Inc. lifted its holdings in shares of Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after purchasing an additional 55,430 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the sale, the director now directly owns 7,480 shares in the company, valued at $512,305.20. The trade was a 16.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,355 shares of company stock worth $39,446,799. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Up 3.5 %

NYSE:ANET opened at $77.96 on Friday. The stock has a market cap of $97.89 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The firm’s fifty day simple moving average is $80.57 and its 200-day simple moving average is $98.37.

Arista Networks (NYSE:ANET) last issued its earnings results 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. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. Morgan Stanley cut their price target on Arista Networks from $118.00 to $73.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their target price for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Evercore ISI dropped their price target on Arista Networks from $130.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $104.29.

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.