Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Sigma Planning Corp

Sigma Planning Corp lifted its position in Arista Networks, Inc. (NYSE:ANET) by 262.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,254 shares of the technology company’s stock after purchasing an additional 21,916 shares during the quarter. Sigma Planning Corp’s holdings in Arista Networks were worth $3,344,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ANET. MidAtlantic Capital Management Inc. acquired a new stake in Arista Networks during the 3rd quarter worth approximately $44,000. HM Payson & Co. lifted its position in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares during the period. True Wealth Design LLC lifted its position in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the period. Anchor Investment Management LLC lifted its position in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the period. Finally, Transcendent Capital Group LLC lifted its position in Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after acquiring an additional 75 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents 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 currently owned by insiders.

Arista Networks Trading Down 4.9 %

Arista Networks stock opened at $98.31 on Friday. The firm has a market capitalization of $123.97 billion, a P/E ratio of 44.28, a PEG ratio of 3.27 and a beta of 1.09. The stock has a fifty day moving average price of $113.66 and a 200 day moving average price of $101.85. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts predict that Arista Networks, Inc. will post 2.19 EPS for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent research reports. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday. Wells Fargo & Company increased their target price on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler reissued a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a research note on Wednesday. One 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. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

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.