348 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Financial Life Planners

Financial Life Planners acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 348 shares of the technology company’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in Arista Networks in the third quarter worth $44,000. HM Payson & Co. grew its position in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the period. True Wealth Design LLC increased its stake in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares in the last quarter. Anchor Investment Management LLC lifted its position in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the period. Finally, ORG Partners LLC boosted its stake in Arista Networks by 186.0% during the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $115.43 on Thursday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The stock has a market capitalization of $145.41 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09. The business’s fifty day moving average price is $112.28 and its 200-day moving average price is $99.36.

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

Analyst Ratings Changes

ANET has been the subject of several recent research reports. Barclays lowered their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group upped their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.83.

Insider Buying and Selling

In other news, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now directly owns 288 shares of the company’s stock, valued at $28,391.76. The trade was a 95.65 % 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 stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is owned by insiders.

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.