Yelin Lapidot Holdings Management Ltd. Acquires 29,028 Shares of Arista Networks, Inc. (NYSE:ANET)

Yelin Lapidot Holdings Management Ltd. grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,704 shares of the technology company’s stock after acquiring an additional 29,028 shares during the quarter. Yelin Lapidot Holdings Management Ltd.’s holdings in Arista Networks were worth $4,278,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation N.A. boosted its stake in shares of 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 raised its holdings in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares in the last quarter. Altman Advisors Inc. raised its stake in shares of Arista Networks by 0.5% during the 3rd 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. HM Payson & Co. boosted its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its holdings in Arista Networks by 4.9% in the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $91.50 on Friday. The firm has a fifty day moving average of $112.19 and a 200 day moving average of $102.02. The firm has a market cap of $115.40 billion, a PE ratio of 41.22, a PEG 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.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group raised their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Barclays increased their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. The Goldman Sachs Group raised their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the sale, the insider now owns 17,433 shares of the company’s stock, valued at approximately $1,623,709.62. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 416,008 shares of company stock valued at $44,854,958. 3.54% of the stock is owned by insiders.

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.