Gallacher Capital Management LLC Has $576,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Gallacher Capital Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 297.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,211 shares of the technology company’s stock after buying an additional 3,901 shares during the period. Gallacher Capital Management LLC’s holdings in Arista Networks were worth $576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ANET. Caitlin John LLC increased its stake in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont grew its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the period. Finally, New Millennium Group LLC grew its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 over the last three months. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

ANET has been the topic of a number of recent research reports. Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Up 4.3 %

Shares of ANET stock opened at $83.58 on Friday. The business has a 50-day moving average price of $105.75 and a two-hundred day moving average price of $101.82. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The firm has a market cap of $105.41 billion, a P/E ratio of 37.65, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.