Synergy Financial Group LTD Purchases 26,921 Shares of Arista Networks, Inc. (NYSE:ANET)

Synergy Financial Group LTD boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 242.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,045 shares of the technology company’s stock after purchasing an additional 26,921 shares during the quarter. Arista Networks comprises 3.5% of Synergy Financial Group LTD’s holdings, making the stock its 7th largest position. Synergy Financial Group LTD’s holdings in Arista Networks were worth $4,205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ANET. Stock Yards Bank & Trust Co. acquired a new stake in shares of Arista Networks in the 4th quarter valued at $242,000. GHE LLC raised its stake in shares of Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC lifted its holdings in shares of Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in shares of Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares in the last quarter. Finally, Proactive Wealth Strategies LLC boosted its stake in shares of Arista Networks by 387.6% during the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after buying an additional 4,865 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Performance

Arista Networks stock opened at $92.61 on Tuesday. The stock’s 50 day moving average price is $113.18 and its two-hundred day moving average price is $102.07. The stock has a market capitalization of $116.79 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks 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 transaction, the senior vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,056 shares of company stock worth $30,225,623. Corporate 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.