Fox Hill Wealth Management Has $3.43 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Fox Hill Wealth Management grew its stake in Arista Networks, Inc. (NYSE:ANET) by 263.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,882 shares of the technology company’s stock after buying an additional 22,392 shares during the period. Arista Networks accounts for about 1.9% of Fox Hill Wealth Management’s holdings, making the stock its 11th biggest holding. Fox Hill Wealth Management’s holdings in Arista Networks were worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC boosted its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ANET. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Piper Sandler restated a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

NYSE:ANET opened at $83.96 on Wednesday. The business has a fifty day simple moving average of $104.44 and a two-hundred day simple moving average of $101.89. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The company has a market capitalization of $105.88 billion, a P/E ratio of 37.82, a P/E/G ratio of 3.10 and a beta of 1.08.

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

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.