Left Brain Wealth Management LLC Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Left Brain Wealth Management LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 347.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,318 shares of the technology company’s stock after acquiring an additional 59,279 shares during the period. Arista Networks makes up about 3.2% of Left Brain Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. Left Brain Wealth Management LLC’s holdings in Arista Networks were worth $8,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Swedbank AB grew its stake in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Arista Networks by 320.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after purchasing an additional 4,919,882 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Arista Networks by 294.1% during the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after purchasing an additional 4,579,622 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Arista Networks by 292.8% during the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. Finally, Amundi boosted its stake in shares of Arista Networks by 196.3% during the fourth quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after purchasing an additional 4,201,973 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 0.2 %

Shares of NYSE ANET opened at $80.11 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The firm has a market cap of $101.02 billion, a P/E ratio of 36.08, a P/E/G ratio of 3.10 and a beta of 1.08. The business’s 50 day moving average price is $106.38 and its 200 day moving average price is $101.73.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.90 billion. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is currently owned by insiders.

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.