Impact Capital Partners LLC Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Impact Capital Partners LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,948 shares of the technology company’s stock, valued at approximately $436,000.

Other institutional investors also recently bought and sold shares of the company. Caitlin John LLC lifted its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Barclays reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Citigroup boosted their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Trading Down 0.2 %

NYSE ANET opened at $80.11 on Friday. The business’s 50 day moving average is $106.38 and its two-hundred day moving average is $101.73. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The stock has a market capitalization of $101.02 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results 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 company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,001 shares of company stock worth $49,112,111. Company 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.