Arista Networks, Inc. (NYSE:ANET) Stock Position Raised by Optas LLC

Optas LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 304.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,703 shares of the technology company’s stock after purchasing an additional 17,845 shares during the period. Optas LLC’s holdings in Arista Networks were worth $2,620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ANET. Zions Bancorporation N.A. grew its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC boosted its stake in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the period. First Affirmative Financial Network grew its holdings in shares of Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares in the last quarter. Altman Advisors Inc. raised its holdings in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares in the last quarter. Finally, Everpar Advisors LLC boosted its position in Arista Networks by 1.5% during the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ANET shares. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Stock Up 2.8 %

ANET opened at $115.43 on Thursday. The stock’s 50 day moving average price is $112.28 and its two-hundred day moving average price is $99.36. The firm has a market capitalization of $145.41 billion, a P/E ratio of 55.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

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

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 in the last ninety days. Insiders own 3.54% of the company’s stock.

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.