National Wealth Management Group LLC Acquires 3,446 Shares of Arista Networks, Inc. (NYSE:ANET)

National Wealth Management Group LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 252.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,812 shares of the technology company’s stock after buying an additional 3,446 shares during the period. National Wealth Management Group LLC’s holdings in Arista Networks were worth $532,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its position in Arista Networks by 23.2% during the third quarter. Public Sector Pension Investment Board now owns 10,092 shares of the technology company’s stock valued at $3,874,000 after acquiring an additional 1,900 shares during the last quarter. Cobblestone Capital Advisors LLC NY bought a new position in shares of Arista Networks during the third quarter valued at about $214,000. True Wealth Design LLC lifted 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 valued at $51,000 after acquiring an additional 128 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Arista Networks during the 3rd quarter valued at about $16,941,000. Finally, Point72 Hong Kong Ltd purchased a new position in Arista Networks in the 3rd quarter worth approximately $2,648,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $77.48 on Tuesday. The business’s 50-day moving average is $98.31 and its two-hundred day moving average is $101.83. The company has a market cap of $97.71 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm 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 predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ANET. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

About Arista Networks

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.