Schaper Benz & Wise Investment Counsel Inc. WI Purchases 7,200 Shares of Arista Networks, Inc. (NYSE:ANET)

Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,600 shares of the technology company’s stock after buying an additional 7,200 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Arista Networks were worth $1,061,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of Arista Networks during the 3rd quarter worth $44,000. True Wealth Design LLC grew its position in shares of Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC grew its position in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares in the last quarter. Transcendent Capital Group LLC grew its position in shares of Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Arista Networks by 52.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock worth $70,000 after buying an additional 63 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 1.2 %

Shares of NYSE:ANET opened at $83.31 on Friday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The stock has a market cap of $105.07 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 3.10 and a beta of 1.08. The business has a 50-day moving average price of $108.92 and a 200-day moving average price of $102.08.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,289 shares of company stock worth $42,355,417 over the last three months. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ANET shares. Barclays raised their price objective on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $112.00 to $115.00 in a research report on Wednesday. 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 research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.