Checchi Capital Advisers LLC Has $810,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Checchi Capital Advisers LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 313.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,329 shares of the technology company’s stock after buying an additional 5,555 shares during the period. Checchi Capital Advisers LLC’s holdings in Arista Networks were worth $810,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ANET. MidAtlantic Capital Management Inc. acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $44,000. HM Payson & Co. raised its holdings in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC raised its holdings 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 last quarter. Finally, Transcendent Capital Group LLC raised its holdings in shares of Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after purchasing an additional 75 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ANET shares. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group raised their target price on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Morgan Stanley raised their target price 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. Finally, Citigroup raised their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One 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. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 17,433 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.14, for a total value of $1,623,709.62. Following the transaction, the insider now owns 17,433 shares in the company, valued at $1,623,709.62. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 416,008 shares of company stock worth $44,854,958 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 3.8 %

NYSE:ANET opened at $96.43 on Thursday. The stock has a market cap of $121.61 billion, a P/E ratio of 43.44, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock’s 50-day moving average is $112.54 and its 200-day moving average is $102.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS 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.