Arista Networks, Inc. (NYSE:ANET) Stock Holdings Raised by Colonial River Investments LLC

Colonial River Investments LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 327.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,745 shares of the technology company’s stock after purchasing an additional 7,466 shares during the period. Colonial River Investments LLC’s holdings in Arista Networks were worth $1,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ANET. Birchcreek Wealth Management LLC grew its position in shares of Arista Networks by 207.0% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,661 shares of the technology company’s stock valued at $515,000 after buying an additional 3,143 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Arista Networks by 283.1% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 224,084 shares of the technology company’s stock valued at $24,768,000 after buying an additional 165,588 shares during the last quarter. Sigma Investment Counselors Inc. grew its position in shares of Arista Networks by 304.6% during the 4th quarter. Sigma Investment Counselors Inc. now owns 44,845 shares of the technology company’s stock valued at $4,957,000 after buying an additional 33,760 shares during the last quarter. MONECO Advisors LLC bought a new position in Arista Networks in the 4th quarter worth about $206,000. Finally, Howard Capital Management Inc. grew its position in Arista Networks by 317.5% in the 4th quarter. Howard Capital Management Inc. now owns 6,104 shares of the technology company’s stock worth $675,000 after purchasing an additional 4,642 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ANET shares. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler restated a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. The Goldman Sachs Group upped their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Barclays upped their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, UBS Group upped their price target on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Down 4.9 %

Shares of Arista Networks stock opened at $98.31 on Monday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a market capitalization of $123.97 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company has a 50-day simple moving average of $113.66 and a 200 day simple moving average of $102.01.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.19 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, 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 SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock worth $30,225,623 over the last ninety days. Insiders own 3.54% of the company’s stock.

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.