Wealthspire Advisors LLC Purchases 8,560 Shares of Arista Networks, Inc. (NYSE:ANET)

Wealthspire Advisors LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 183.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,224 shares of the technology company’s stock after purchasing an additional 8,560 shares during the quarter. Wealthspire Advisors LLC’s holdings in Arista Networks were worth $1,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. purchased a new position in shares of Arista Networks during the fourth quarter valued at approximately $242,000. Silver Oak Securities Incorporated increased its position in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares in the last quarter. Proactive Wealth Strategies LLC raised its stake in Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after buying an additional 4,865 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock worth $66,599,000 after acquiring an additional 449,088 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Arista Networks by 338.4% in the fourth quarter. Allworth Financial LP now owns 10,281 shares of the technology company’s stock worth $1,136,000 after acquiring an additional 7,936 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ANET. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Citigroup upped their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 260,056 shares of company stock worth $30,225,623. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

ANET stock opened at $92.61 on Tuesday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The company has a market cap of $116.80 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The stock’s fifty day moving average price is $113.18 and its 200-day moving average price is $102.07.

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 the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, analysts expect that Arista Networks, Inc. will post 2.19 earnings per share for the current year.

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.