Arista Networks, Inc. (NYSE:ANET) Stock Position Boosted by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 335.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 248 shares of the technology company’s stock after acquiring an additional 191 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Arista Networks were worth $27,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Colonial River Investments LLC grew its position in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares in the last quarter. Birchcreek Wealth Management LLC grew its position in Arista Networks by 207.0% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,661 shares of the technology company’s stock valued at $515,000 after buying an additional 3,143 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Arista Networks by 283.1% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 224,084 shares of the technology company’s stock valued at $24,768,000 after purchasing an additional 165,588 shares in the last quarter. Sigma Investment Counselors Inc. boosted its position in shares of Arista Networks by 304.6% during the 4th quarter. Sigma Investment Counselors Inc. now owns 44,845 shares of the technology company’s stock valued at $4,957,000 after purchasing an additional 33,760 shares in the last quarter. Finally, MONECO Advisors LLC bought a new position in shares of Arista Networks during the 4th quarter valued at about $206,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ANET. Rosenblatt Securities restated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Price Performance

NYSE ANET opened at $92.61 on Tuesday. The company has a 50 day simple moving average of $113.18 and a 200-day simple moving average of $102.07. The firm has a market capitalization of $116.79 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions 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 of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 260,056 shares of company stock valued at $30,225,623 over the last three months. 3.54% of the stock is owned by corporate 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.