Bouchey Financial Group Ltd Takes Position in Arista Networks, Inc. (NYSE:ANET)

Bouchey Financial Group Ltd purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,820 shares of the technology company’s stock, valued at approximately $201,000.

Several other hedge funds also recently made changes to their positions in the company. Financial Security Advisor Inc. boosted its position in shares of Arista Networks by 304.9% during the fourth quarter. Financial Security Advisor Inc. now owns 3,288 shares of the technology company’s stock valued at $363,000 after purchasing an additional 2,476 shares in the last quarter. Hilltop Partners LLC boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Hilltop Partners LLC now owns 3,180 shares of the technology company’s stock worth $351,000 after acquiring an additional 2,385 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Arista Networks by 51.6% in the fourth quarter. QRG Capital Management Inc. now owns 112,315 shares of the technology company’s stock worth $12,414,000 after acquiring an additional 38,226 shares in the last quarter. Versor Investments LP boosted its holdings in Arista Networks by 202.0% in the fourth quarter. Versor Investments LP now owns 10,060 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 6,729 shares in the last quarter. Finally, Crown Wealth Group LLC boosted its holdings in Arista Networks by 303.7% in the fourth quarter. Crown Wealth Group LLC now owns 3,076 shares of the technology company’s stock worth $340,000 after acquiring an additional 2,314 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Arista Networks stock opened at $91.50 on Friday. The stock has a market cap of $115.40 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a fifty day moving average of $112.19 and a 200 day moving average of $102.02.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ANET. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. The Goldman Sachs Group boosted their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company upped their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $113.79.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, 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 90 days, insiders sold 416,008 shares of company stock worth $44,854,958. 3.54% of the stock is owned by insiders.

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.