Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 301.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,800 shares of the technology company’s stock after purchasing an additional 8,860 shares during the period. Empower Advisory Group LLC’s holdings in Arista Networks were worth $1,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zions Bancorporation N.A. increased its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC increased its position in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares in the last quarter. Altman Advisors Inc. increased its position in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares in the last quarter. HM Payson & Co. increased its position in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC increased its position in shares of Arista Networks by 4.9% in the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $111.05 on Wednesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company has a market capitalization of $139.89 billion, a price-to-earnings ratio of 53.39, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company’s fifty day moving average price is $113.95 and its two-hundred day moving average price is $101.32.

Arista Networks (NYSE:ANET) 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%. As a group, analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 337,320 shares of company stock worth $37,946,706. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ANET shares. Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One research 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 data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $107.59.

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.