Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 284.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,952 shares of the technology company’s stock after buying an additional 1,444 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Arista Networks were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the last quarter. Anchor Investment Management LLC boosted 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 worth $52,000 after purchasing an additional 35 shares during the period. Meeder Asset Management Inc. boosted its stake in Arista Networks by 52.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock worth $70,000 after purchasing an additional 63 shares during the period. Caitlin John LLC boosted its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, March 6th. The stock was 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 owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 in the last quarter. 3.54% of the stock is currently owned by company insiders.

Arista Networks Trading Up 0.5 %

ANET stock opened at $84.38 on Thursday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The company has a fifty day simple moving average of $103.81 and a 200 day simple moving average of $101.77. The firm has a market cap of $106.42 billion, a PE ratio of 38.01, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ANET. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.