[ad_1]
Allworth Financial LP raised its position in Arista Networks, Inc. (NYSE:ANET – Free Report) by 338.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,281 shares of the technology company’s stock after buying an additional 7,936 shares during the period. Allworth Financial LP’s holdings in Arista Networks were worth $1,136,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitlin John LLC lifted its position in shares of Arista Networks by 174.7% during the fourth 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 lifted its position in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont lifted its position in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. New Millennium Group LLC lifted its position in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its position in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup raised their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday. UBS Group raised their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.
Get Our Latest Stock Analysis on ANET
Insider Activity at Arista Networks
In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’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 transaction of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,944 shares of company stock worth $30,214,186 over the last quarter. 3.54% of the stock is currently owned by company insiders.
Arista Networks Price Performance
NYSE ANET opened at $103.82 on Thursday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The firm has a market capitalization of $130.79 billion, a PE ratio of 49.91, a P/E/G ratio of 2.87 and a beta of 1.09. The company’s 50 day simple moving average is $114.08 and its 200 day simple moving average is $101.54.
Arista Networks (NYSE:ANET – Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Sell-side analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share 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.
Featured Stories
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).
Receive News & Ratings for Arista Networks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Arista Networks and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link
