James J. Burns & Company LLC Has $610,000 Stake in Arista Networks, Inc. (NYSE:ANET)

James J. Burns & Company LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,520 shares of the technology company’s stock after buying an additional 4,140 shares during the period. James J. Burns & Company LLC’s holdings in Arista Networks were worth $610,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC increased its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. New Millennium Group LLC increased its holdings in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares in the last quarter. Finally, Costello Asset Management INC increased its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock worth $33,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,832 shares of company stock valued at $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $115.43 on Thursday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The firm has a market cap of $145.41 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09. The business’s fifty day moving average is $112.28 and its 200-day moving average is $99.36.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the firm earned $0.41 EPS. Arista Networks’s revenue was up 20.0% on a year-over-year basis. As a group, research analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Rosenblatt Securities increased their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. UBS Group raised their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler restated a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, The Goldman Sachs Group raised their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

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.