Fielder Capital Group LLC Takes $279,000 Position in Arista Networks, Inc. (NYSE:ANET)

Fielder Capital Group LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,185 shares of the technology company’s stock, valued at approximately $279,000.

A number of other large investors also recently added to or reduced their stakes in the stock. AXQ Capital LP purchased a new position in Arista Networks in the 3rd quarter valued at about $791,000. Advisor Resource Council boosted its stake in shares of Arista Networks by 507.9% in the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after acquiring an additional 5,866 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 194 shares in the last quarter. WCM Investment Management LLC raised its stake in Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after purchasing an additional 16,081 shares during the last quarter. Finally, abrdn plc lifted its holdings in Arista Networks by 62.7% in the 4th quarter. abrdn plc now owns 113,851 shares of the technology company’s stock valued at $26,813,000 after purchasing an additional 43,889 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 1.6 %

Shares of ANET traded up $4.42 during trading on Monday, reaching $278.82. 2,030,771 shares of the company traded hands, compared to its average volume of 2,450,893. The stock has a 50-day simple moving average of $279.18 and a 200-day simple moving average of $250.63. The stock has a market cap of $87.17 billion, a PE ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13. Arista Networks, Inc. has a twelve month low of $133.42 and a twelve month high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 6.74 EPS for the current year.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $4,929,639.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now owns 17,681 shares in the company, valued at $4,929,639.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,474 shares of company stock worth $96,640,840. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ANET. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Barclays boosted their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Piper Sandler increased their price target on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Finally, Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.53.

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.