Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Capital Investment Counsel Inc

Capital Investment Counsel Inc boosted its position in Arista Networks, Inc. (NYSE:ANET) by 288.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,950 shares of the technology company’s stock after purchasing an additional 3,675 shares during the quarter. Capital Investment Counsel Inc’s holdings in Arista Networks were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ING Groep NV lifted its stake in shares of Arista Networks by 359.9% during the fourth quarter. ING Groep NV now owns 284,936 shares of the technology company’s stock worth $31,494,000 after purchasing an additional 222,984 shares in the last quarter. Parcion Private Wealth LLC lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. Parcion Private Wealth LLC now owns 5,144 shares of the technology company’s stock worth $569,000 after purchasing an additional 3,858 shares in the last quarter. Morningstar Investment Management LLC lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. Morningstar Investment Management LLC now owns 2,152 shares of the technology company’s stock worth $238,000 after purchasing an additional 1,614 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Arista Networks by 456.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 15,512 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 12,725 shares in the last quarter. Finally, Meitav Investment House Ltd. acquired a new position in shares of Arista Networks during the fourth quarter worth about $939,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ANET shares. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday. 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. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday. Finally, Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Trading Down 0.4 %

NYSE:ANET opened at $103.47 on Friday. The firm has a market capitalization of $130.35 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09. The stock has a 50 day moving average of $114.01 and a 200-day moving average of $101.55. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 31.22% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, analysts predict that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,944 shares of company stock valued at $30,214,186 in the last three months. 3.54% of the stock is currently owned by corporate 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.