Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Cynosure Group LLC

Cynosure Group LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 179.2% in the fourth quarter, Holdings Channel reports. The fund owned 3,024 shares of the technology company’s stock after buying an additional 1,941 shares during the period. Cynosure Group LLC’s holdings in Arista Networks were worth $334,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Benjamin Edwards Inc. grew its stake in shares of Arista Networks by 12,994.4% during the third quarter. Benjamin Edwards Inc. now owns 11,785 shares of the technology company’s stock worth $4,523,000 after purchasing an additional 11,695 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in Arista Networks during the 3rd quarter worth about $1,153,000. Janus Henderson Group PLC boosted its position in shares of Arista Networks by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 357,064 shares of the technology company’s stock worth $137,004,000 after acquiring an additional 2,851 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of Arista Networks by 94.0% in the 3rd quarter. IHT Wealth Management LLC now owns 13,399 shares of the technology company’s stock valued at $5,132,000 after acquiring an additional 6,491 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Arista Networks by 5.4% during the 3rd quarter. Motley Fool Asset Management LLC now owns 14,232 shares of the technology company’s stock worth $5,434,000 after acquiring an additional 734 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

ANET stock opened at $80.31 on Thursday. The stock has a market capitalization of $101.28 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The company has a fifty day moving average of $96.46 and a 200-day moving average of $101.60. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last released its earnings results 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. The company had revenue of $1.93 billion for 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%. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 483,001 shares of company stock valued at $48,220,031. 3.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ANET shares. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Citigroup lifted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.00.

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.