PDS Planning Inc Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

PDS Planning Inc lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 303.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,710 shares of the technology company’s stock after buying an additional 5,047 shares during the quarter. PDS Planning Inc’s holdings in Arista Networks were worth $742,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ANET. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake 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 valued at $27,000 after buying an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% during 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 in the last quarter. Trust Co. of Vermont lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC lifted its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s 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 completion of the sale, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,001 shares of company stock valued at $49,112,111. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $85.06 on Tuesday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The firm’s fifty day moving average is $105.07 and its 200 day moving average is $101.92. The firm has a market cap of $107.27 billion, a P/E ratio of 38.32, a P/E/G 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 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.