Realta Investment Advisors Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Realta Investment Advisors raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 315.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,967 shares of the technology company’s stock after buying an additional 8,325 shares during the quarter. Realta Investment Advisors’ holdings in Arista Networks were worth $1,263,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ANET. Caitlin John LLC boosted its position in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares in the last quarter. Cranbrook Wealth Management LLC boosted its position in shares of Arista Networks by 300.0% during the fourth 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 in the last quarter. Trust Co. of Vermont grew its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. New Millennium Group LLC raised its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in shares of Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Down 0.3 %

Shares of Arista Networks stock opened at $115.11 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The company’s 50 day moving average is $112.87 and its 200 day moving average is $99.58. The company has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Sell-side analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company upped their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group lifted their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities increased their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

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.