Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 846.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,789 shares of the technology company’s stock after purchasing an additional 9,649 shares during the period. Moloney Securities Asset Management LLC’s holdings in Arista Networks were worth $1,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. LVW Advisors LLC lifted its stake in Arista Networks by 6.0% in the 3rd quarter. LVW Advisors LLC now owns 730 shares of the technology company’s stock valued at $280,000 after buying an additional 41 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Arista Networks by 9.4% in the third quarter. Valeo Financial Advisors LLC now owns 2,041 shares of the technology company’s stock worth $783,000 after acquiring an additional 175 shares during the last quarter. First Affirmative Financial Network lifted its position in shares of Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Arista Networks by 10.9% during the third quarter. Gateway Investment Advisers LLC now owns 1,469 shares of the technology company’s stock valued at $564,000 after acquiring an additional 144 shares during the last quarter. Finally, Inspire Investing LLC increased its position in Arista Networks by 11.6% during the 3rd quarter. Inspire Investing LLC now owns 28,640 shares of the technology company’s stock worth $10,993,000 after purchasing an additional 2,976 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $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 have 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.

Wall Street Analysts Forecast Growth

ANET has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Morgan Stanley raised their target price 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. Barclays cut their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. UBS Group lifted their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Piper Sandler reiterated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Up 2.8 %

Shares of ANET stock opened at $118.52 on Monday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm’s 50 day moving average price is $113.21 and its two-hundred day moving average price is $99.91. The stock has a market cap of $149.31 billion, a price-to-earnings ratio of 56.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

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