Private Wealth Partners LLC Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Private Wealth Partners LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 317.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,992 shares of the technology company’s stock after acquiring an additional 5,319 shares during the quarter. Private Wealth Partners LLC’s holdings in Arista Networks were worth $773,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ANET. TBH Global Asset Management LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth about $280,000. Private Advisor Group LLC increased its stake in Arista Networks by 231.3% during the 4th quarter. Private Advisor Group LLC now owns 49,261 shares of the technology company’s stock worth $5,445,000 after buying an additional 34,393 shares during the period. Alberta Investment Management Corp acquired a new stake in Arista Networks during the 4th quarter worth approximately $30,627,000. Strata Wealth Advisors LLC boosted its position in Arista Networks by 299.7% in the 4th quarter. Strata Wealth Advisors LLC now owns 38,267 shares of the technology company’s stock valued at $4,230,000 after buying an additional 28,692 shares during the period. Finally, TKG Advisors LLC acquired a new position in shares of Arista Networks in the fourth quarter worth $280,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

ANET opened at $103.82 on Thursday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market capitalization of $130.79 billion, a P/E ratio of 49.91, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09. The business’s 50-day simple moving average is $114.08 and its 200-day simple moving average is $101.54.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s 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 completion of the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 259,944 shares of company stock valued at $30,214,186. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ANET shares. UBS Group lifted their target price on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday. Finally, Piper Sandler restated a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

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.