Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Choreo LLC

Choreo LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 404.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,445 shares of the technology company’s stock after acquiring an additional 20,401 shares during the period. Choreo LLC’s holdings in Arista Networks were worth $2,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in Arista Networks in the 3rd quarter valued at approximately $44,000. HM Payson & Co. lifted its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC lifted its stake 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 valued at $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares in the last quarter. Finally, ORG Partners LLC lifted its stake in Arista Networks by 186.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction 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 directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,832 shares of company stock worth $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ANET shares. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Rosenblatt Securities upped their target price on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their price target on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Barclays reduced their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Trading Down 0.3 %

Shares of ANET opened at $115.11 on Friday. The firm has a market capitalization of $145.01 billion, a P/E ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock’s fifty day simple moving average is $112.58 and its 200 day simple moving average is $99.48. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company posted $0.41 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Arista Networks, Inc. will post 1.97 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.