14,220 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,220 shares of the technology company’s stock, valued at approximately $1,572,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. True Wealth Design LLC lifted its holdings in Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Caitlin John LLC lifted its stake in shares of 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 buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the period. Finally, New Millennium Group LLC grew its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $86.87 on Wednesday. The company’s fifty day moving average price is $101.47 and its two-hundred day moving average price is $101.98. The firm has a market capitalization of $109.55 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last posted its earnings results 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. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Piper Sandler reissued a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Barclays reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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.