Arista Networks, Inc. (NYSE:ANET) Shares Bought by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,316 shares of the technology company’s stock after acquiring an additional 3,237 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Arista Networks were worth $477,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. GraniteShares Advisors LLC acquired a new position in shares of Arista Networks in the 4th quarter worth approximately $1,300,000. Denali Advisors LLC grew its stake in shares of Arista Networks by 298.3% in the 4th quarter. Denali Advisors LLC now owns 58,556 shares of the technology company’s stock worth $6,472,000 after purchasing an additional 43,854 shares during the last quarter. Richard Bernstein Advisors LLC grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. Richard Bernstein Advisors LLC now owns 34,228 shares of the technology company’s stock worth $3,783,000 after purchasing an additional 25,671 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Arista Networks by 661.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 16,170 shares of the technology company’s stock worth $1,787,000 after purchasing an additional 14,046 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC increased its position in shares of Arista Networks by 447.8% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 2,920 shares of the technology company’s stock worth $323,000 after acquiring an additional 2,387 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 0.2 %

NYSE ANET opened at $92.85 on Wednesday. The stock has a market capitalization of $117.10 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company has a 50 day moving average price of $112.78 and a two-hundred day moving average price of $102.13. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

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

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. 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 can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on 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 $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,224 shares of company stock worth $30,242,856 over the last ninety days. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

ANET has been the topic of several analyst reports. Citigroup lifted their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, UBS Group lifted their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.