OneAscent Wealth Management LLC Buys 2,710 Shares of Arista Networks, Inc. (NYSE:ANET)

OneAscent Wealth Management LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 308.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,588 shares of the technology company’s stock after purchasing an additional 2,710 shares during the period. OneAscent Wealth Management LLC’s holdings in Arista Networks were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. purchased a new stake in Arista Networks in the 4th quarter worth approximately $242,000. GHE LLC lifted its stake in Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC boosted its holdings in 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 acquiring an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new position in Arista Networks during the 4th quarter valued at $630,000. Finally, Berkshire Capital Holdings Inc. lifted its position in shares of Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of several research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Transactions at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 in the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $77.91 on Friday. The firm has a market cap of $98.25 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The business has a 50-day simple moving average of $99.16 and a two-hundred day simple moving average of $101.66. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks 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.