Ashton Thomas Securities LLC Has $1.35 Million Position in Arista Networks, Inc. (NYSE:ANET)

Ashton Thomas Securities LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 308.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,216 shares of the technology company’s stock after buying an additional 9,223 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Arista Networks were worth $1,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Arista Networks during the third quarter valued at approximately $1,417,000. Eagle Asset Management Inc. boosted its stake in Arista Networks by 21.1% during the third quarter. Eagle Asset Management Inc. now owns 16,130 shares of the technology company’s stock worth $6,459,000 after buying an additional 2,807 shares in the last quarter. Raymond James Trust N.A. increased its holdings in Arista Networks by 2.9% in the 3rd quarter. Raymond James Trust N.A. now owns 2,538 shares of the technology company’s stock valued at $974,000 after buying an additional 71 shares during the period. Cerity Partners LLC raised its stake in shares of Arista Networks by 50.4% in the 3rd quarter. Cerity Partners LLC now owns 33,454 shares of the technology company’s stock valued at $12,409,000 after buying an additional 11,216 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Arista Networks by 1.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 4,169 shares of the technology company’s stock worth $1,600,000 after acquiring an additional 63 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Up 5.3 %

Shares of NYSE ANET opened at $87.58 on Tuesday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The firm’s 50-day simple moving average is $102.03 and its 200 day simple moving average is $101.92. The company has a market cap of $110.44 billion, a price-to-earnings ratio of 39.45, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its 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 company had revenue of $1.93 billion for 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, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ANET shares. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler reiterated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given 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 target price of $114.00.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks 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 sale, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

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.